Statistics support predictions of leveling off at ‘high plateau’

Al Fernandez moved from Tampa to Miami two years ago, and acquaintances kept telling him to take advantage of the booming housing market before prices became too high.

But he held off until recently, uneasy about a “frenzy” in the market, where prices were rising too quickly. He decided to temporarily rent an apartment until the market cooled and he could research his purchase — likely a condo in the $400,000 range.

“It was just so crazy, the housing market then. People were saying, ‘Get in on this condo because in three months, it’s going to go up $100,000,’” Fernandez said.
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Source: Baltimore Sun