Promising data for the housing market was reported by Re/Max, which noted April saw rises in both home sales and prices.
Property data from the real estate company show home sales grew more than 4 percent during the month from the year before, while home prices increased 3.2 percent on a monthly basis and 5.9 percent annually.
"While home prices are still low and interest rates remain at historically low levels, it's likely that many more potential homebuyers will leave the sidelines and jump into this market," said Re/Max CEO Margaret Kelly.
In total, 43 of the 53 metropolitan areas surveyed by Re/Max experienced price hikes from a year earlier. Moreover, 12 of those markets saw price jumps in double digits.
The improvement in sales and prices, along with low mortgage rates, could be an indication of things to come for the housing market during the rest of the second quarter. The Mortgage Bankers Association reports its Market Composite Index rose 9.2 percent during the week ending May 11.