Still, activity in the housing market faces challenges from rising home prices, a persistent lot and labor shortage, and increasing material costs. High demand and tight inventory continue to fuel home-price growth, with values increasing 1.6% from February to March and 7.1% from the prior year, according to the latest CoreLogic Home Price Index.
Growth projections are tapering — with prices forecast to rise 4.9% nationwide through March 2018 — but only somewhat.
