Experts dismissed housing bubble concerns earlier this year, but they are not anymore. Key data points are on track to reach bubble levels soon, though most sit below their 2006 peaks.
Here are three signs the US is hurtling toward another housing bubble if it is not there already.
1. Prices are above bubble levels
The Case-Schiller National HPI is exceeding the heights of the late-2000s boom
2. Homes are selling with bubble like intensity
The median DOM was just 16 in the 4-weeks ending August 1, and the average sale-to-list is around 1.02
3. Rents are also spiking higher
The nationwide price-to-rent ratio increased above 1.5 at the peak of the market boom in 2006.