Home Prices Jump in March

Home prices continued to edge higher in March due in a large part to low inventories of homes for sale on the market.

The S&P Case-Shiller 20-City Home Price Index rose 6.8 percent from March 2017 to March 2018, matching the February gain.

David Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices, said, "Months-supply, which combines inventory levels and sales, is currently at 3.8 months, lower than the levels of the 1990s, before the housing boom and bust. Until inventories increase faster than sales, or the economy slows significantly, home prices are likely to continue rising."