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Are you thinking about buying or selling a home this year? A remarkable dynamic is developing.

“What’s going on is you’ve got this incredible supply crunch,” says Hedgeye Housing analyst Josh Steiner in the video clip above. “We’re seeing the lowest levels of supply in homes for sale on record, even taking into consideration the heady days of 2005-2006.”

In this clip from The Macro Show above, Steiner explains that historically, when housing supply is this tight, “you would expect home prices nationally to rise about 12% over the next 15 months.”

Incidentally, home prices are currently rising by 6%, so a 12% rise would represent a doubling of the current growth rate.