The Homes.com Rebound Report for May finds there are now 19 markets defined as “fully recovered” compared with 14 in April. Additionally, there are 39 markets where prices have rebounded by 50% or more, up from 35 one month prior.
Brock MacLean, executive vice president of Homes.com, said, “With five new markets reaching a full recovery over the last month and modest gains in some of the already fully recovered markets, the overall rebound of the U.S. housing market continues to move forward.”
Five of the markets had a rebound greater than 200%.
Homes.com’s Local Market Index found that that prices had improved when looking at repeat sales in 83 of the 100 markets studied. In April, all 100 markets had improved prices. When compared with May 2012, all 100 markets were up.
Still, the decreases were marginal, Homes.com said, with the largest in Worchester, Mass., down 1.12 index points.
The largest improvement on a month-to-month basis was in the New Orleans area, up 6.09 index points.