CHICAGO – May 15, 2013 – The housing market appears to be having a broad-based recovery, according to April data through realtor.com, the National Association of Realtors®’ (NAR) website operated by Move Inc.
Most of the nation sees an upswing in home sales during the spring, and an analysis of housing data based on realtor.com’s listings found positive news for buyers facing a limited inventory of homes for sale: The number of for-sale listings on Realtor.com increased 3.12 percent
In addition, listing home prices – which may or may not be an accurate gauge of selling prices – increased 2.63 percent.
However, it appears that even more buyers entered the market – enough to override any additional inventory. Realtor.com says the homes were on the market nationwide about 81 days in April – a decrease of nearly 11 percent since April 2012 – suggesting that new listings don’t stay on the market very long.
“Due to increased demand for homes and more confidence in the job market, we are beginning to see more and more buyers entering the housing market,” says Steve Berkowitz, chief executive officer of Move. “In some markets, we are seeing homes staying on the market for only a few weeks.”
Despite the increase in inventory in one month, nationwide inventory declined year-over -year 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 homebuying season, according to realtor.com data. The number of markets that saw a steady or slight decline in median list price is decreasing throughout the homebuying season. In April, median list prices increased in 109 markets.
© 2013 Florida Realtors®
Reprinted with permission. Florida Realtors®. All rights reserved.