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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,

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