Nevada City Virtual Tour

Tuesday, March 20, 2012

Home Prices Start to Rise, Sales Trend Higher: Housing Recovery Underway

For the first time in 18 months, home prices in February rose higher. With a median price of $171,881, prices in the 53 cities surveyed by the RE/MAX National Housing Report rose by 1.1% over February 2011.  (ed: 1.1%? ..... geez this is actually news...)

Home sales were even higher, up 8.7% from one year ago. With a positive sales trend of 8 straight months above the previous year, it’s looking like 2012 will witness a very strong home-selling season, RE/MAX reports. As a result of reduced foreclosure activity, inventory continued a downward trend for the 20th straight month, 22.4% lower than the housing inventory in February 2011. (at least sales are up)

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