Categories: Retirement Planning and Investing

Shrinking Inventory Helps Boost Home Prices in Many U.S. Cities

Shrinking Inventory Helps Boost Home Prices in Many U.S. Cities (Bloomberg)

A dwindling inventory of foreclosed properties has helped restrict the supply of homes for sale, pushing up prices despite pricing mortgage rates. Home prices in 20 U.S. cities rose in October from a year ago by the most in more than seven years, showing signs of a U.S. real-estate rebound. The S&P/Case-Shiller index of property prices in 20 cities climbed 13.6 percent from October 2012, the biggest 12-month gain since February 2006, after a 13.3 percent increase in the year ended in September, a report from the group showed today. The median projection of 22 economists surveyed by Bloomberg called for a 13.5 percent advance.

Paul Dykewicz

Paul Dykewicz is the editor of StockInvestor.com and the editorial director of Eagle Financial Publications in Washington, D.C. He writes and edits for the website, as well as edits investment newsletters, time-sensitive trading alerts and other reports published by Eagle. He also is an accomplished, award-winning journalist who has written for Dow Jones, USA Today and other publications, as well as served as business editor of a daily newspaper in Baltimore. In addition, Paul is the author of the inspirational book, "Holy Smokes! Golden Guidance from Notre Dame's Championship Chaplain." He received his MBA in finance from Johns Hopkins University, where he was a two-time president of the school's Finance Club. In addition, Paul has a bachelor's degree from the University of Michigan and a master's degree in journalism from Michigan State University. Outside of work, Paul volunteers with a faith-based organization to assist the poor in Southeast Washington, D.C., to learn personal finance skills to lift themselves out of debt.