Realtor.com Shows Broad Price Increases

SAN JOSE, CA—Nationally, home prices continue to climb – indicating a more comprehensive, generalized real estate recovery than a year ago, according to the May 2014 National Housing Trend Report released this week by realtor.com, the leader in providing consumers the most accurate U.S. residential listings online. May’s housing report shows all but eight of 146 markets reporting year-over-year price increases. This May’s housing market stands in significant contrast to last year in which price increases were less generalized and more concentrated in specific metropolitan areas. This broad increase in price suggests a more evenly distributed recovery and a healthier national housing market. Move, Inc. operates realtor.com.

The median listing price of homes in May 2014 rose 8% over last year to $214,900, according to realtor.com. Median age of inventory is 78 days – the same as it was during the localized inventory shortages experienced last year. May home inventories are down 5.8% compared with a year ago. An important metric – median age of housing inventory – is identical for this May and last May, as consumer demand continues to move homes in 2014 as quickly as last year.