Dive Brief:
- A new report based on more complete data than is used in other reports puts the increase in home prices at 11.3% from the end of 2012 to the final quarter of 2013.
- The CoreLogic Case-Shiller number is based on information from 380 U.S. housing markets.
- The report predicts that prices will be up 5.3% nationally when figures are in for the end of this year.
Dive Insight:
David Stiff, who is the principal economist for the report, attributed the year-over-year change to "limited" construction of new homes and the number of existing homes combining to keep inventory tight. “Developers remain cautious about building too many new houses until they see stronger demand in their markets,” Stiff said.
