Some economists believe so. The rapid pace of the housing recovery has surprised everyone, home prices have increased more than 20% in a few markets with the average being about 12%.
There's no question about the sustainability of the real estate recovery. It's happened... period. It hit bottom and has rebounded with tremendous speed. If a buyer is looking for the rock bottom deal in Orlando (or most markets), that's long gone. Take some time to read market reports on line to support this evidence.
Many buyers are using larger cash down payments than required... which is attractive to lenders. There are more creditworthy buyers than before, giving the investors/full cash buyers some additional competition. A cash purchase is terrific for sellers with far less contingencies and a quick close. However, sellers realize the market has rebounded and in part due to the increase in the number of well qualified buyers with financing.
With this continual lack of inventory which is predicted... expect continual price growth. New builds are up and this is key to helping maintain some balance on the resell demand and prices.