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Shifts and price elasticity in the housing market are ruled by supply and demand. On a weekly basis, the cost of a home increases or decreases depending on how the market is at that point. It goes without saying that housing prices in the last few years have been driven by demand but low mortgage rates and increasing incomes have also contributed to increase in demand; and this has also affected the price of homes in the market.
However, evidence shows that housing prices have increased much more in some places compared to others. A possible explanation for this could be the demand for homes in these places is more than other places. Another possible reason could be that supply of homes in these places could be limited compared to other places.
In the US, shifts and price elasticity in housing market along the coasts appears to be low. The main reasons for this are regulations and geography-induced land shortages. However, in contrast, in the Midwest and in smaller towns, growing demand has not increased housing prices drastically because the supply is ample in these areas.
This is the reason why in the US there is a housing bubble in large cities but the increased demand has not had an effect on smaller urban areas of the nation.
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VA home loan is a loan made out veterans wherein they are not required to put any down payment on the home and the interest rates are lower than other mortgage loans. In order to be eligible for a VA home loan, a veteran has to furnish a veteran’s certificate of eligibility and VA-assigned appraisal. Besides this, the getting a VA home loan application process is no different from any other mortgage loan. 
