Economists say the pandemic housing boom is showing "signs of exuberance" akin to the boom of the early 2000s.
Highlights
- Federal Reserve Bank of Dallas says housing market is showing “signs of a brewing U.S.
- housing bubble” Mortgage rates are at an average of 4.67% for a fixed 30-year loan for the week ended March 31.
- The national median listing price for a home has jumped to a record $405,000, Realtor.com says.
- But experts say the current price increases are unsustainable, but don’t necessarily signal a bubble.
- The current exuberance measure is 115% higher than in 2006, according to the Dallas Fed.
- The current housing bubble is “comparable to the run-up of the last housing boom,” they say.