Analysts Keep an Eye on Real Estate Market as Housing Prices Rise
Home prices are going up, but don’t call it a bubble just yet. Data from Thursday showed that home prices advanced 7.7 percent in the past year (through June) as fence-sitting homebuyers move to buy before prices continue to rise. A recent rise in mortgage rates is also spurring buyers to lock in rates before they climb further. "When you start to see interest rates rise, people are going to want to jump in," remarked Beth Ann Bovino, deputy chief economist at Standard & Poor's. "All those people on the fence come back into the market. But that's a good…