Housing Market Gains Momentum Across The Country

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Housing Market Gains Momentum Across The Country

Rising at the fastest rate in seven years, communities across the country are seeing double-digit gains in home prices. Buyers are returning to the market when properties are in short supply, creating a domino effect on the housing market. Home prices jumped 9.3% this February compared to same time last year, the quickest rise since 2006 according to the Standard & Poor’s/Case Shiller index that tracks home prices in 20 major markets. Policy rates kept low by the Federal Reserve have a lot riding on this momentum. However, there are concerns that home prices could more easily rise above their traditional relationship to incomes because the lower mortgage rates will enable buyers to swallow price increases. For more on this debate real the full article in the Wall Street Journal. Colorado micro-market data available here. Contact Fuller Sotheby’s International Realty, your local expert with global reach, to discuss the current marketplace at 303.893.3200.

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