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IPFS News Link • Housing

Are Housing Markets Still Clearing Out the Trash of the Last Bust?

• Douglas French

"Teamed with a resilient job market, low mortgage rates have helped boost home buyer demand," Matthew Speakman, an economist at real estate data provider Zillow, told CNBC. "An extreme shortage of for-sale listings, particularly at lower price points, remains a concern and may ultimately result in a sharper re-acceleration in home prices than expected."

So everything is okeydokey in housing-land. Well, here in the Sunbelt, the housing price rebound looks to have topped, and it could be rolling over like it did in, say, 2006. gives us the pictures.

In Phoenix:

House prices in the Phoenix metro rose 0.5% in October from September and were up 5.8% from October last year, the fastest year-over-year growth among the metros. And it's closing in on the craziness of 2006. House prices have nearly doubled in the eight years since September 2011: