U.S. Home Prices Rose 6% in First Quarter as Supply Tightened
ByHome prices in the U.S. increased 6 percent in the first quarter from a year earlier as competition heated up for a scarcity of listings.
Prices rose 1.4 percent on a seasonally adjusted basis from the previous three months, the Federal Housing Finance Agency said in a statement Wednesday. In March, prices climbed 0.6 percent from February, matching the average estimate of 15 economists.
Job growth is firing up demand for real estate, pushing buyers into bidding wars for the tight supply of homes on the market. There were 1.83 million previously owned homes available for sale at the end of March, down 6.6 percent from a year earlier, according to the National Association of Realtors…
U.S. Home Prices Rose 6% in First Quarter as Supply Tightened
