Originally posted on c21goldberks:
It’s simple economics really. The less we have of something always makes the price go up. It’s called supply and demand and we all learned about when we were in school. Real Estate is no different and follows this rule closely, as we saw in the 4th quarter of last year.
Home prices showed solid gains in the 4th quarter as there were less homes for sale than in the previous years. We saw this trend throughout 2014 and with less bank foreclosures going up for sale, it also fueled the price increase as well.
Economists are predicting the interest rates will be going up this year which always threatens our market with less buyers buying. This year however, they are predicting home sales will be on the rise as well as prices, just not as much as last year.
How much home prices went up in the 4th quarter…
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