Recent analysis from CoreLogic shows that home prices rose 6 percent year over year in December, with another 4.3 percent increase predicted by the end of 2018.
Realtor.com reports that the study found about 35 percent of the 100 largest U.S. home markets are valued higher than they should be. Many of these are located on the West Coast; Las Vegas and San Francisco both saw year over year price gains above 10 percent in 2017.
"The number of homes for sale has remained very low," said CoreLogic's chief economist, Frank Nothaft, in a statement. "Rising income and consumer confidence has increased the number of prospective home buyers. The net result of rising demand and limited for-sale inventory is a continued appreciation in home prices."
