Housing Recovery Accelerating as List Price and Inventory Increase

Realtor.com released its April data showing that the U.S. housing market is on its way to a broad-based recovery, an accelerated trend since March. The home-buying season shifted into high gear last month as inventory and home list prices on Realtor.com® increased 4.12 percent and 2.63 percent, month over month, respectively. As of April, homes are on the market nationwide approximately 81 days—a decrease of nearly 11 percent since April 2012—highlighting that while new homes are entering the market, they are not available for long.

Despite the increase in inventory month over month, nationwide inventory declined on an annual basis in all but 11 of the 146 markets Realtor.com® monitors. Approximately 36 markets registered a decrease of listings by 20 percent or more, still highlighting near records lows of available homes.

Approximately 37 markets experienced a decline in list price since last year, a figure that has been improving throughout the home-buying season. The number of markets throughout the nation experiencing a steady or slight decline in median list prices is decreasing throughout the home-buying season, another positive signal for the overall housing market recovery. In April, median list prices increased in 109 markets.

Carylee Stone

Distinctive Properties

858-344-2632

carylee@stonehometeam.com