Prices continue to go up but the selection keeps going down
By Mark Huffman as seen on
As we head into the end of the year with an economy that remains anemic, one factor economists are closely watching is the housing market.
After crashing in 2009, housing has recovered nicely, with prices rising nearly to pre-crash levels. But one of the biggest reasons for the price rally, especially lately, is that the supply of homes hasn't kept pace with demand.
So where does it go from here, and what does it mean for the economy? The latest ValueInsured Housing Confidence Index is not overly encouraging. While home prices are rising, confidence among consumers in the housing market is about the same as it has been all summer.