Scarcity a key factor as home prices rise in top U.S. cities: Case-Shiller
The numbers: Home prices rose in March as home sellers held out on listing their homes, constraining supply.
Year-over-year appreciation was down 1.1%, which is a dip from the home prices rising 0.4% in February. The 20-city index peaked in June 2022. A separate report from the Federal Housing Finance Agency also showed home prices rising in March, up 0.6% from February.There aren’t enough homes listed for sale on the market, as home sellers see no incentive in selling and giving up their ultra-low mortgage rate for a home loan that comes with a 7% rate.
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