US Houses Are Pricier Than Ever. But Will it Last?

In March, the US Federal Reserve's lowering of interest rates fueled a housing boom.

According to Business Insider, the Federal Housing Finance Agency says that the explosion shows no signs of subsiding.

A seasonally adjusted index of prices rose 1.7% in September from the prior month, and prices jumped 7.8% from their year-ago period.

Mortgage rates hit their thirteenth record-low of the year last week.

The average 30-year fixed-rate mortgage rate fell to 2.72% from 2.84%.

However, experts say the good times in the housing market aren't likely to last forever.

We expect some moderation in the pace of housing starts in the face of the rapidly escalating health crisis, a faltering recovery, and softening labor market gains.

Nancy Vanden Houten, Lead US economist, Oxford Economics