As the economy continues to grow jobs, consumer confidence rises and residential rental rates increase, the demand for housing rises. Given a very tight inventory of builder-ready lots, new home construction is trailing demand. As a result, asking prices for both new and existing homes, and ultimately sales prices, are climbing. In some cities prices are literally rocketing.

Dr. Ted Jones is Stewart Title’s Vice President/Chief Economist and Director of Investor Relations. You may read this article on his blog…