Based on data of more than 100 million properties in the U.S., home values are up 7 percent from last year. In some trendy markets, such as Orlando and Nashville, prices have risen by double digits.
“Real estate looks very hot,” said Spencer Rascoff, the CEO of Zillow, in an interview with Fortune. “The overall mood for home buyers and sellers is strong.”
The increased prices indicate a seller’s market. Though buyers are benefitting from low mortgage rates, the few amount of available houses make it difficult to compete for a winning bid.
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