I wanted to share some information I got from the corporate office of Re/Max Realty:

Home Prices & Sales Trend Higher, Recovery Continues

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.  Results are looking good for May and we’re very hopeful about June.

“It’s encouraging to see several improving economic and housing indicators, which are pointing to a continuing real estate recovery,” said Margaret Kelly, CEO of RE/MAX, LLC. “While home prices are still low and interest rates remain at historically low levels, it’s likely that many more potential homebuyers will leave the sidelines and jump into this market.

This is great news! Median home prices are up, number of days on the market is down, and overall home inventory is down, which means foreclosure rates are falling and homes are selling.