So far 2015 is looking a lot like 2014 in terms of closings. Both single family homes and condominiums are very close to 2014 levels between January and May. However, the type of buyer has been shifting with prices ratcheting higher during the past year. Investors now make up a relevant but declining share of closings and the higher prices have likely tempered some first-time buyer interest although low interes... read more
Home prices due appear to be on a pretty abrubt increase. Constrained supply, combined with continued demand from investors and owner occupants is leading to higher bids.
We are beginning to see these same trends manifest in the Case-Shiller indices in the levels, first and second derivatives, as seen below.
So we know that in general, prices are on the increase. What we don't know is how sustainable they are if more supply is placed on the market. Recently, new listings have been nearly equivelent to c... read more