BENGALURU - U.S. home prices will rise a bit faster this year than previously expected due to limited available supply, according to analysts polled by Reuters, who saw affordable properties coming to market remaining below levels of demand in coming years.
That was an upgrade from 3.3% predicted three months ago and higher than the average consumer price inflation forecast for this year of 3.2% in a separate Reuters survey. "As of now, roughly half of the U.S. has locked in fixed-mortgage rates of under 4%, and that should keep supply stable ... so housing affordability is still tough," said John LaForge, head of real asset strategy at Wells Fargo Investment Institute.
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