Spring Home Sales Fuel Market Gains: Report
This year's spring home-buying season boosted the nation's housing market, according to Realtor.com.
The four-month period from April through July was marked by increases in inventory and appreciation in home prices, the firm said in a report on national housing trends.
"This year we're ending the traditional season with high buyer and seller confidence demonstrated by price appreciation, increases in inventory and quick home sales," said Jonathan Smoke, chief economist at Realtor.com, in a Aug. 20 press release.
Median list prices increased 7.5% from the previous year, to $214,900. Meanwhile, the median age of inventory on the market was 82 days, or three days shorter than last year.