. In a chaotic market, demand and prices for homes in US soar « JO LEE MAGAZINE

AP — The U.S. housing market has gotten so out of whack, with demand far outpacing supply, that prices have risen to record levels and roughly half of all U.S. houses are selling for above their list price.

On Tuesday, new data further illuminated the red-hot nature of the housing market: Prices rose in March at the fastest pace in more than seven years. The S&P CoreLogic Case-Shiller 20-city home price index jumped 13.3% that month compared with a year earlier, the biggest gain since December 2013. That followed a 12% jump in February.

Find out more at the Associated Press.

World on the Run | Jo Lee Magazine

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