The fiery pace of the housing recovery is cooling off in coming month, as housing is not keeping up with demand, John Burns, chief executive of John Burns Real Estate Consulting, said. Per The Dallas Morning News:

In general, the West region is doing better than the East, but there are “huge differences by geography,” Burns said. Places such as Phoenix, San Francisco and Texas have the strongest markets because of supply constraints, he said.

“The Texas economy is booming in building,” Burns said. “The market is on fire, and a lot of it is based on oil and gas.”

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