Posted on April 1, 2016 - 06:48 AM
by Estefene Nestor
Will the housing market continue to experience tight inventory, thereby leading to rising prices and sales volatility? According to the latest S&P/Case-Shiller Home Price Index, the answer appears to be yes, as home prices continued rising at a steady clip in January with the index rising 5.4 percent in the 12 months ended in January, slightly greater than a 5.3 percent increase in December. The 10-city index gained 5.1 percent from a year earlier and the 20-city index gained 5.7 percent year-over-year. While home-price growth appears to have stabilized at an annual rate of close to 5 percent, the pace of sales has fluctuated, in part because of a lack of homes for sale and because high prices have started to scare some buyers.