The Realtor.com National Housing Trend Report said the median list price of a home for sale increased 0.45% in June from May and by 5.27% over June 2012. Listings of homes for sale, especially in some California markets, also showed vast improvement.
Reno, Nev., was the market with the biggest individual month-to-month price increase, up 5.53%; the median age of the inventory of homes for sale there decreased over 34% from June 2012.
CoreLogic’s Pending Home Price Index had
Furthermore, the inventory of homes for sale increased 4.26% from May but was down 7.29% from June 2012. In California, some locations saw tremendous growth in homes being put on the market during the month. In Orange County, the inventory grew by almost 52% over May, while in the Los Angeles-Long Beach area it was up 47%.
"Inventories on Realtor.com reached their highest level in June since the beginning of 2013. We're seeing increases as high as 51% month-over-month in many Southern California markets," said Steve Berkowitz, chief executive of Move Inc. "Sellers are continuing to list homes at a steady pace into late June, which moves us past the traditional home buying season, as mortgage interest rates continue to rise. These are all signs that the market recovery is continuing at a healthy pace."
However, besides Reno, other places with large year-over-year decreases in the median age of the inventory included the Seattle area, down over 47%; Denver, down 47%; and Oakland, down 45%.
