Let’s start wide. I know this is the April report, but econ data lags. (Math is hard.)
On a national-basis, it appears YoY prices increased 3.7% in March. See here. CoreLogic further projects a 4.8% increase (YoY) for April.
At least one industry economist is drawing the line between the demand-curve and demographics. In this tweet, First American’s Deputy Chief Economist points out the New Construction Starts are increasing, but may need to run faster.
Locally, MLS data indicates that we ended April with 2.4 Months-of-Inventory (on 478 sales and 1135 listed). Average sales price crept up, back near the $200k line ($199k) on a similar increase in price/sf ($88).
Our Mover’s Moving index sprouted with Spring, hitting 134 transactions. See attached.