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In Like a Lion: Spring Gets Roaring Start With High Values, Low Supply |
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The spring home-buying season is off to a roaring start, with home values up 7 percent and supply down 3 percent year-over-year, according to Zillow's Real Estate Market Reports for February. Competition is expected to be fierce as homebuyers chase down few listings, says Zillow Chief Economist Dr. Svenja Gudell. "Low inventory, strong demand and tough competition will be the defining characteristics of this year's home shopping season," Gudell says. "Even though interest rates are rising, buyers are eager to start their home search." High values and low supply are especially pronounced in Minneapolis-St. Paul, Minn., where values are up 7.1 percent year-over-year ...
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