A scarcity of homes for sale and record-low mortgage rates are setting up for a bullish real estate market, Zelman & Associates CEO Ivy Zelman said Thursday on CNBC.
“I think we’re in nirvana for housing,” she said. “I think that I have to tell you, I’m probably the most bullish I’ve ever been fundamentally, and I’m dating myself, been around for over 20 years, so I’ve seen a lot of ups and downs.”
On “Fast Money,” Zelman likened consumer sentiment to a battleship pointing down for the past several years.
“And then the inventory cleared, the blight goes away, consumers feel better and now it’s really this urgency to go find a house,” she said. “I’ll tell you, there are Realtors blanketing neighborhoods, asking people to sell their homes.”
Zelman correctly called both the housing market’s top in 2005 and the bottom in 2012.
She said in the video that she thinks this run could last 4-6 years.