Home prices continue to climb as homebuilding stalls in adding enough supply to the stock. But like most things in real estate, whether or not a city can add enough volume to meet the incoming demand depends on location, location, location.
- Trulia report finds that U.S. homebuilders are slow to keep up with the rising home prices, but have otherwise historically kept pace.
- Las Vegas has the highest rate of housing supply elasticity of 1.17, which means that housing supply has increased slightly more than prices in the last 20 years.
- California and New York cities have been slow to keep up with the pace of demand over the past 20 years.