Dive summary:

• The latest figures on home sales show that, at least nationally if not everywhere, home prices are rising because demand is growing faster than supply.
• Some worry that the boom is driven too much by investors who can pay cash and who are outbidding the traditional buyers who world borrow – if banks would let them.
• In the short term, however, the price increases – February was 9.3% above the year-before level – appear likely to continue as improving employment drives household formation.

From the article:

All 20 [Case-Shiller] cities posted year-over-year gains for the second consecutive month, which hasn't happened since 2005, before the crash. ...