Home prices continue to rise and now the gains are accelerating again. Short supply is the culprit in the hottest areas, keeping properties supremely pricey
But supply isn't terribly tight everywhere; that presents some enticing new opportunities for buyers. Some of the most up-and-coming metropolitan housing markets are actually some of the most affordable. As millennials age out of their expensive rentals and seek affordable, urban homes, these new markets could heat up quickly.
"You're going to see places like Salt Lake City, Phoenix [heat up], as well. Employers will be conscious of the cost of living and the cost of housing," said Charlie Young, who just took over as the new CEO of Coldwell Banker.