This summer we had a bubble in the housing market. Prices were rising, buyers were coming out of the woodwork, and interest rates started to rise. We were in housing Nirvana! Where are we now? How has the bubble impacted today's market? Lets look at the home prices of a builder to see how this summer played out.

Here are the numbers for new construction homes in Bluffdale for the $300K - $400K price range.  In May home prices jumped almost 10% from what they were at the beginning of the year. That's an increase of $30K - $40K. Today those home prices have dipped back down 12.5% lower than it was in May. That means the pricing is now $7500 - $10,000 lower than the original pricing from the beginning of the year. Was this bubble localized to