REALTORS® Expect Continued Home Price Growth in Most States in the Next 12 Months

Posted in Economist Commentaries, by Scholastica (Gay) Cororaton, Research Economiston September 27, 2017 33  

In the monthly REALTORS® Confidence Index Survey, the National Association of REALTORS® asks members “In the neighborhood or area where you make most of your sales, what are your expectations for residential property prices over the next year?”

Home prices have been on the rise as demand continues to outstrip supply. At the end of August 2017, the inventory of homes for sale stood at 1.88 million homes, which is equivalent to 4.2 months of the current monthly sales pace.  Month’s supply has been falling since January 2015, 27 consecutive months…

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