After about 4-5 years we are starting to see a rise in prices again. It's nice if it can be attributed directly to some thing such as job growth or a large number of military members coming in, but it seems as though it's solely buyer confidence.

Lending restrictions have started to ease up as well, but it's still much more of a process to get qualified than it used to be. If things can be directly attributed to something specific it's easy to tell how long rising prices might last.

Unfortunately when there is no direct cause it's easy for sellers to just get on board to try to catch the wave of buyers driving prices up. What I would expect to happen is by the end of summer everyone has their home on the market which will cause an oversupply and drive prices back down.

Our market here in Colorado Springs does fluctuate, but for right now it's hard to say how long the rising prices will last. I believe it will last as long as inventory doesn't grow faster than demand. Changes in interest rates will affect buyer thinking as well.