The Case-Shiller Home Price Index is reporting steady price increases across the nation. The Case-Shiller 20-City Composite Index rose 5% year over year in February. This was compared to a 4.5% rise in January. The February gain was the largest monthly gain since July 2014. Of course, real estate is local, and some markets like San Francisco and Denver are doing so well they're skewing results to the upside.
Supply and Demand Factors
Markets, whether real estate or groceries, all respond to supply and demand pressures. And there are a three supply factors and one demand item that are putting upward pressure on prices.
Homeowners aren't Selling - Supply
Though the number of existing home sales has been rising consistently, the increase hasn't been enough to spur homeowner to enter the market as sellers. Many are still underwater, owing more on their homes than they're worth. Many others do not have enough equity to pay sales costs and pocket any money, so they're in a holding pattern.
Many are concerned that even if they can sell with some equity that they will not be able to find another suitable home. They see prices rising, but because a lot of the reason is low supply with rising demand, they are not sure that there is another home http://finance.yahoo.com/news/dean-graziosi-explains-why-3-070900105.html instructors around the world.
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