214: Identifying Local Real Estate Bubbles

Selling Greenville

Doomers are constantly talking about "the real estate bubble bursting," but the reality is that the dynamic we saw in 2007-08 of the entire US housing market crashing at one time is unusual and not likely to repeat itself any time soon. What we do see, however (and particularly since COVID), is localized markets forming bubbles that inevitably burst. In fact, we are experiencing this currently in one very specific part of the Upstate of SC: Laurens County, which has seen substantial price declines since the 2022 price peak. So how do we identify markets that could be in a bubble vs. ones that have sustainable demand likely to continue indefinitely? Let's look at the indicators that help determine sustainable growth vs. that of a soon-to-be bursting bubble.
As always, if you have any questions or comments (or, of course, need a realtor), feel free to reach out to Stan McCune directly by phone/text at [phone] or by email at [e-mail].