SEATTLE and Denver—Technology -powered real estate broker Redfin has released its Real-Time Home Price Tracker for February, showing home prices increasing 13.2 percent year over year across 19 major U.S. markets. Meanwhile, Re/max released its February RE/MAX National Housing Report showing sales 2.3 percent greater than February 2012 and a median price 7.0% higher.
Inventories continue to tighten, both sources noted. Redfin had inventory falling 1.8 percent from February 2012. Redfin tracks 19 major markets for its report, while Re/Max looks at 52.
As home prices recover in 2013, more homeowners will achieve positive equity and the number of foreclosures should be reduced, Re/Max says. The current recovery has not yet brought housing back to pre-crisis levels, but appears on its way to a more stable and sustainable environment.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
