The Real Deal New York

A new bubble in the U.S. housing market?

February 05, 2013 01:30PM

Are we in the midst of a new nationwide housing bubble? Home prices are up, as revealed earlier today by data from CoreLogic, and CNBC reported this could be cause for concern. Though the numbers remain down from the 2006 peak, prices rose 8 percent year-over-year, but in other markets, they’re soaring. For example, Phoenix has seen a 26 percent year-over-year home price increase; Las Vegas prices are up 15 percent year-over-year.

However, some areas are showing “momentum stalls,” according to analysts at Clear Capital, a particular concern for the Florida housing market. Some metropolitan areas in the state are missing from the 15 best performing markets, including Miami, Orlando, Tampa and Jacksonville.

“These markets led the recovery in late 2011, and share some of the hallmarks for recovering markets overall,” Alex Villacorta, director of research and analytics at Clear Capital, told CNBC. [CNBC]Zachary Kussin