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Talk to almost any housing expert and they will likely say the housing market is not in a bubble. This is despite that home prices are soaring at historical highs across the country.

In February, prices surged 12% year-over-year, according to the latest S&P CoreLogic Case-Shiller U.S. National Home Price Index, which is the highest increase since February 2006—right before the housing market crashed, sending home values into a free fall.

For buyers waiting for the housing fever to break and home prices to plummet, they might be in for a big disappointment. However, experts say there could be a smaller price correction.

“Today’s housing market is riddled with both good and bad signs,” says Ali Wolf, chief economist at housing…

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