the usual fall slowdown, yearly metrics
and realtor.com traffic continue to show solid
growth in October reflecting strong and
consistent buyer demand - according
to realtor.com's 'Advance Read of October
Trends.'

"Monthly inventory metrics point to a strong and
steady market that has moved into the slower
part of the year and reflect a momentum that
has shifted to now favor buyers," says Jonathan
Smoke, chief economist for realtor.com. "Robust year-over-year housing metrics and traffic
show just how far the housing market has come in 2015."

Top line findings of the monthly report that draws on residential inventory and demand trends
over the first three weeks of the month include:
The national median list price is $232,000, virtually flat from September and up 6 percent year-over-year.

Median age of inventory is now 81 days, up 1 day from September, but down 3 days, or 7 percent,
year-over-year, and moving slightly more slowly as the fall season and colder weather dampen
summer demand.

Listings inventory will likely end the month down 2 percent from September.

South Florida is beating most of the country when it comes to home price increases, a new report shows.

Prices in Palm Beach, Broward and Miami-Dade counties increased 7.7 percent from a year earlier, according to the Standard & Poor's/Case-Shiller home price index.

Five other metros on the 20-city index had higher increases than South Florida. San Francisco led at 11.2 percent, followed by Denver (10.9 percent), Portland, Ore. (10.1), Denver (10.9) and Dallas (9).

Analysts say the index is one of the best measures of home prices because it tracks the price of the same house over time.

Local Realtor boards release countywide median prices for homes and condominiums sold in a month. But the Case-Shiller index lags the Realtor data by a month and does not track condo prices.

While some wonder about a housing bubble, David M. Blitzer, chairman of the index committee for Standard & Poor's, said in a statement that he doubts the nation's housing market is headed for a fall.

Blitzer said there isn't a large spread between the increase in home prices and the change in rents - which is one of the ways to determine whether a bubble exists. And he cited a national report that shows affordability, while on the decline, "is more than adequate" for a median income consumer looking to buy a median-priced home.

Affordability is more of a concern in specific markets, including South Florida, where prices have been climbing consistently and little new construction is planned for middle-income residents.