CoreLogic analyst Shu Chen probes into the fact that one-third of homes now sells for more than the price they list at. Chen looks at why that is--mostly scarcity of good inventory for sale, which creates greater demand per unit of supply, forcing prices up.
And Chen's analysis goes further, for housing markets around the nation behave differently. Here's Chen's take:
San Francisco had the largest share of homes – 82 percent – that sold for at least the list price. Seattle and Los Angeles followed with 52 and 42 percent selling for the list price or more, respectively. Cincinnati and Chicago had the lowest share – 20 percent – of homes selling at or above the list price in October 2015.