MORE IN CATEGORY
ADVERTISEMENT
The latest reading from the S&P CoreLogic Case-Shiller indices, through March 2018, reveal that home prices are still climbing nationally, up 6.5 percent year-over-year.
Trulia's senior economist Cheryl Young said in a statement that the latest data is "sure to unnerve" potential homebuyers, especially first-timers and those looking for homes at the lowest-priced end of the market. Curbed's Patrick Sisson writes that the latest data showing rising home prices "is not news ... especially in competitive coastal cities," adding that Seattle's YOY price increase in March was 13 percent, Las Vegas saw 12.4 percent growth, and San Francisco's home prices were up 11.3 percent during that period.
According to an analysis by David M. Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices, while today’s housing market is calmer than it was in the early 2000s, he forecasts continued price increases. “Two figures that stand out are rapidly rising home prices and low inventories of existing homes for sale,” he says. “Until inventories increase faster than sales, or the economy slows significantly, home prices are likely to continue rising.”
PB Topical Ref
