Rising prices and falling affordability in housing
“The housing market is kicking off for spring on an upward trajectory. Existing home sales rebounded in February after a slump earlier in winter, rising 3 percent on a monthly basis and 1.1 percent year to year, to an annual rate of 5.54 million UNITS?. Meanwhile, prices continue to rise, up 6.3 percent nationwide in 2017, according to the latest S&P CoreLogic Case-Shiller Index. Seattle, Las Vegas and San Francisco posted the strongest gains (12.7 percent, 11.1 percent and 9.2 percent, respectively).”