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Home Prices Are Up, Supply Is Down—Expect Bidding Wars

Posted by Bonnie Martin Designated Broker on Monday, February 16th, 2015 at 9:17am. - It’s getting more expensive to buy a house. Prices rose 6% in the fourth quarter of 2014 as buyers competed for fewer and fewer available homes for sale, according to new data from the National Association of Realtors®.

The NAR report shows most cities (86%) are experiencing rising prices, with fewer available homes to choose from. Just 24 cities, or 14%, recorded lower median prices in 2014 than in 2013.

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