It may be winter, but it doesn't feel like it. Sure, temperatures seem to be warmer than normal, but prices are growing more quickly than "normal," too. In February 2013 compared to February 2012, prices increased 50%. And homes are selling further over asking - 4.4% to be exact - which is 9.4 points higher than where they were a year ago. Much of this is driven by low inventory: sales are down 39%, and inventory is down over 60%. We expect that activity will pick up in April, but whether it will be enough to satiate buyer demand remains to be seen. Stay tuned for first quarter numbers.....
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