Concomitantly, the S&P CoreLogic December report put home prices surging 6.3%. This is attributed to a plentiful supply of buyers ready to close, the housing inventory shortage and the revitalized economic climate.
Although there is some trepidation with the continued surge in home prices and unabated buyer demand, many of the experts within the field believe that this is a different market than the one that crashed in 2008.
Because of stringent credit requirements, and a stronger economy with limited housing in terms of inventory, many believe that this is not a bubble but very possibly a new plateau.
The stronger economy is giving everyone a sense of sustained optimism. Manufacturing is increasing, unemployment is at record lows, and hiring new workers seems to be hitting the headlines on a daily basis.
The real estate boom is occurring in the regions that typically have a strong financial engine, but now the sectors such as Seattle, Las Vegas and San Francisco are emerging as having an economic boom. This is not to mention such places as Florida and Texas.