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<p> <strong>The numbers:</strong> The S&P/Case-Shiller national index rose a seasonally adjusted 0.5% in the three-month period ending in January, and was up 6.2% compared to a year before. The 20-city index rose a seasonally adjusted 0.8% for the month, and 6.4% for the year.</p> <p> <strong>What happened: </strong>Prices are still on fire. And the West is still the best: Seattle, Las Vegas and San Francisco all notched double-digit yearly price gains. Only one city, Washington, D.C., had a negative monthly reading. </p> <p>As David Blitzer, chairman of the index committee at S&P Dow Jones Indices, noted in a release, the price gains are all about demand and lack of supply. </p> <p>“The current months-supply — how many months at the current sales rate would be needed to absorb homes currently for sale — is 3.4; the average since 2000 is 6.0 months, and the high in July 2010 was 11.9,” Blitzer wrote. “Currently, the homeowner vacancy rate is 1.6% compared to an average of 2.1% since 2000; it peaked in 2010 at 2.7%. Despite limited supplies, rising prices and higher mortgage rates, affordability is not a concern.”</p> <p>Relatively affordable housing is cold comfort to many would-be home buyers who simply can’t find anything to buy. </p> <p> <strong>Read:</strong> <a href="http://fakehost/story/two-thirds-of-house-hunters-have-been-searching-for-3-months-or-more-2018-02-22">Most house hunters have been searching for 3 months or more</a> </p> <p> <strong>Big picture:</strong> Economists had forecast a 0.7% monthly increase, and a 6.2% 12-month increase, for the 20-city index. <a href="http://fakehost/story/why-its-so-hard-to-forecast-home-prices-for-2018-and-why-that-should-worry-you-2017-12-19">As MarketWatch has reported</a>, most housing analysts have argued that the ongoing price gains in housing can’t last — and yet they have so far. </p> <table readabilityDataTable="1"><tbody><tr><td colspan="" id=""> <strong>Metro</strong> </td> <td colspan="" id=""> <strong>Monthly change</strong> </td> <td colspan="" id=""> <strong>12-month change</strong> </td> </tr><tr><td colspan="" id="">Atlanta</td> <td colspan="" id="">0.7%</td> <td colspan="" id="">6.5%</td> </tr><tr><td colspan="" id="">Boston</td> <td colspan="" id="">0.2%</td> <td colspan="" id="">5.3%</td> </tr><tr><td colspan="" id="">Charlotte</td> <td colspan="" id="">0.4%</td> <td colspan="" id="">6.0%</td> </tr><tr><td colspan="" id="">Chicago</td> <td colspan="" id="">0.0%</td> <td colspan="" id="">2.4%</td> </tr><tr><td colspan="" id="">Cleveland</td> <td colspan="" id="">0.0%</td> <td colspan="" id="">3.5%</td> </tr><tr><td colspan="" id="">Dallas</td> <td colspan="" id="">0.2%</td> <td colspan="" id="">6.9%</td> </tr><tr><td colspan="" id="">Denver</td> <td colspan="" id="">0.7%</td> <td colspan="" id="">7.6%</td> </tr><tr><td colspan="" id="">Detroit</td> <td colspan="" id="">0.1%</td> <td colspan="" id="">7.6%</td> </tr><tr><td colspan="" id="">Las Vegas</td> <td colspan="" id="">0.6%</td> <td colspan="" id="">11.1%</td> </tr><tr><td colspan="" id="">Los Angeles</td> <td colspan="" id="">0.6%</td> <td colspan="" id="">7.6%</td> </tr><tr><td colspan="" id="">Miami</td> <td colspan="" id="">0.6%</td> <td colspan="" id="">4.0%</td> </tr><tr><td colspan="" id="">Minneapolis</td> <td colspan="" id="">0.1%</td> <td colspan="" id="">5.9%</td> </tr><tr><td colspan="" id="">New York</td> <td colspan="" id="">0.0%</td> <td colspan="" id="">5.2%</td> </tr><tr><td colspan="" id="">Phoenix</td> <td colspan="" id="">0.3%</td> <td colspan="" id="">5.9%</td> </tr><tr><td colspan="" id="">Portland</td> <td colspan="" id="">0.4%</td> <td colspan="" id="">7.1%</td> </tr><tr><td colspan="" id="">San Diego</td> <td colspan="" id="">0.8%</td> <td colspan="" id="">7.4%</td> </tr><tr><td colspan="" id="">San Francisco</td> <td colspan="" id="">0.4%</td> <td colspan="" id="">10.2%</td> </tr><tr><td colspan="" id="">Seattle</td> <td colspan="" id="">0.7%</td> <td colspan="" id="">12.9%</td> </tr><tr><td colspan="" id="">Tampa</td> <td colspan="" id="">0.4%</td> <td colspan="" id="">6.7%</td> </tr><tr><td colspan="" id="">Washington</td> <td colspan="" id="">-0.4%</td> <td colspan="" id="">2.4%</td> </tr></tbody></table><p>Read: <a href="http://fakehost/story/mortgage-rates-edge-up-even-as-trade-war-worries-loom-ahead-2018-03-22">Mortgage rates edge up even as trade war worries loom ahead</a></p>
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