Home price increases driven by lack of inventory

A National Association of Realtors 2015 fourth-quarter report found that U.S. home prices, driven by a lack of inventory, continued to increase at an accelerating rate through the quarter.

The NAR report found that the price for a median existing single-family home increased in 81% of the markets measured. The national median existing single-family home price was up 6.9% from the fourth quarter of 2014 to $222,700.