Home Prices & Sales Trend Higher, Recovery Continues

Home Prices & Sales Trend Higher, Recovery Continues

The following is an excerpt from the monthly RE/MAX National Housing Report. For more information or to see the full two-page report (attached), contact (303) 796-3667.

Denver, CO – May 18, 2012 – (RealEstateRama) — The national median home price rose for the third straight month in April, indicating that a housing recovery is strengthening in 2012. In the 53 metropolitan areas surveyed by the RE/MAX National Housing Report, median home prices were 3.2% higher than March and a solid 5.9% higher than April 2011. After 18 consecutive months of year-over-year price declines, February was the first month home prices experienced an increase. Now, March and April have followed suit creating a positive trend. The market continues to show strength with home sales 4.1% higher than April 2011. April becomes the 10th month sales have pushed higher than the same month a year earlier. Inventory, Months Supply and Days on Market are all trending lower. With current levels of sales and inventory, an expected up-tick in foreclosure properties could be absorbed if they come to market over a reasonable time frame.

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Contact:

Allie Musso

Phone: 303-796-3662

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