Is the Long Beach Island Real Estate Market in a Bubble
Long Beach Island Real Estate
With the recent increase in home prices, many would-be buyers are asking if the Long Beach Island real estate market is in a bubble. That is a fair question, and there are multiple opinions. While the truth is that nobody knows where prices will be in one month, six months, or a year from now, the fundamental of the national and local LBI real estate market strongly suggests that we are not in a bubble. A bubble in the LBI real estate market usually occurs when the price of a home exceeds the buying power of those looking to purchase and demand falls. That is not the current case on Long Beach Island or even in the national market. Several factors support this, but chief among them are:
- Interest rates are still very low
- Demand is high both locally and nationally
- There are strong incentives to buy, which are likely to remain for some time
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
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