Home prices may have hit bottom in March

Overall home prices remained relatively flat in March, which is an indicator that some experts say is a sign that the housing market is finally reaching its bottom after years of free fall.

Overall home prices remained relatively flat in March, which is an indicator that some experts say is a sign that the housing market is finally reaching its bottom after years of free fall.

Prices fell just 0.2 percent in March from the previous quarter, according to a report from Clear Capital. Regionally, the report indicated that every region saw home price gains, with the exception of the Midwest, where values fell 2.4 percent.

"With the exception of the Midwest, positive growth in rolling quarter-over-quarter prices is an encouraging sign that markets are rebounding from the winter slow down earlier than usual," said Clear Capital director of research and analytics Alex Villacorta. "Even with the relatively modest declines seen over the last few months, markets have continued to show signs of bottoming out."

Meanwhile, the metropolitan areas with the most significant price gains were Phoenix, where prices climbed 7.3 percent during the period and Dayton, Ohio, where prices rose 6.3 percent. In addition, real estate data indicates that Pittsburgh also saw a significant price appreciation of 6.1 percent.



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