Home prices increased in 24 of the 26 metropolitan areas tracked by Altos Research’s latest Housing Market Update. The national median home price was $440,194, up from $432,307 in March, and the 10-city composite index showed prices up 1.82 percent in April. The upward trend is typical for spring, when sellers enter the market hoping to take advantage of increased buying activity. The report also found seasonal gains in inventory, with many metro areas posting double-digit increases. Altos says 7-day price averages have been on the rise for a few months and they expect the spring market’s momentum to continue this summer. More here.
