10 Cities With the Fastest-Rising Home Prices

Detroit, Phoenix among most improved cities on Case-Shiller list

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#5: Detroit

#5: Detroit, Mich.YOY Increase: 15.2%

Detroit’s home prices might have fallen 0.6% from January to February, but that slightly lower month-over-month number was still more than 15% higher than prices in February 2012.

Even with that gain, though, Detroit’s price level of just more than $80,000 remains the lowest on the list by a landslide. Plus, there are some signs that the housing recovery in the city might not be as strong as it seems.

The main one: low inventory. The Detroit Times summed it up, saying “The price hikes are partially due to a mounting problem: The number of homes for sale is shrinking. That shortage already is starting to put some cracks in the foundation of the rebounding housing market.”

Article printed from InvestorPlace Media, http://investorplace.com/2013/04/10-cities-with-the-fastest-rising-home-prices/.

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