There have been a number of articles over the last weeks indicating that the housing market is strong enough to continue growth, even in the face of a Fed rate hike. On top of that, Fitch released their ratings report today, backing up that conclusion. But in the face of that, 35% of major U.S. housing markets have hit all time highs — not highs since the crash, ALL TIME highs. In some markets, like Denver, that may not be surprising, but what if I told you that Detroit, MI, was at an all-time high? And to compound matters, all-cash sales have increased for the 3rd month in a row — which means foreign investors propping up the market. All-in-all, we say it’s anybody’s guess which way home prices go in the new year.

 

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Jim Crowder

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