Red-hot housing market brings challenges
An ugly first quarter for the stock market has many investors in search of a silver lining. Here’s one: The value of your house has never been higher! The latest numbers in the Case-Shiller U.S. Home Price Index suggest the average American home increased nearly 20% in the last 12 months. All 20 metropolitan areas saw annual gains of at least 11% with the biggest jumps occurring in Phoenix (33%), Tampa, Fla., (31%) and Miami (28%).