| Are House Prices Beginning to Accelerate Again? Posted: 25 Feb 2015 04:00 AM PST  In a recent post, we explained that the supply of homes for sale in December was at its lowest level in over a year. The January National Housing Trend Report from realtor.comnow reveals that inventory in January has decreased another 6.7% month over month and 8.7% year over year. This is occurring at the same time that buyer activity (demand) remains strong. This prompted realtor.com’s Chief Economist Jonathan Smoke to report: “January’s inventory data suggest a continuation of the tightening trend we identified last month in the December data, and with a shortage of inventory typically comes increased home prices. Half of the 200 marketsrealtor.com tracks experienced year-over-year price increases of at least 6% in January.”This after the National Association of Realtors (NAR) had already reported in their latest quarterly report: “The majority of metropolitan areas experienced steady but slightly stronger price growth in the fourth quarter of 2014, behind a decline in housing supply and an uptick in demand fueled by lower interest rates and a stronger job market.” Bottom LineWhether you are a first time buyer or a move-up buyer, now may be time to purchase a home – before prices increase any further. |
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