The Latest Real Estate News, Investing and Housing Market Tips

Home prices are rising, the number of homes for-sale is showing a slight increase, and homes are selling faster—all signs that spring is in the air in , according to the latest data released by®.

Nationwide, median list prices continue to tick up, reaching $189,900 in February. Inventories last month increased 1.15 percent month-over-month, after recently hitting record lows. Also, homes are selling faster with the median age of inventory at 98 days, a 9.26 percent drop from the previous month.

“As we enter the busiest time of the year for home buyers and , our latest housing trend data shows just how competitive the is with a significant housing recovery well underway,” says , chief executive officer of . “Looking ahead, we can expect the amount of inventory to increase this spring along with higher list prices as sellers become more comfortable with the market conditions.”

Median list prices were up 5 percent or more in 51 markets on a year-over-year basis, according to®. California markets are seeing some of the highest increases in list prices as well as some of the largest in for-sale inventory. Other top performing markets include Phoenix, Seattle, and Denver, according to®.

“However, many smaller industrialized markets in the Midwest and the Northeast registered year-over-year declines, as did Philadelphia, Chicago, and City,” reports in a recent® blog post. “While the number of markets experiencing year-over-year list declines had been increasing, this pattern appears to be turning around as home list prices increased in 78 markets last month on a year-over-year basis and declined in 39.”


Leave a Reply

You must be logged in to post a comment.