Property data shows that home prices in April rose at a rate faster than they had since June of 2012, a response to increased demand for houses in the warmer months. Experts attribute this uptick to a recovering market, which is due in part to low interest rates, relatively low home prices and the increased availability of credit.
The most recent FNC Residential Price Index revealed that home sale prices went up 0.7 percent from March to April, and rose 4.6 percent from April of last year. However, this does not mean that prices increased across the board. Phoenix experienced an uptick of nearly 30 percent from 2012, while Baltimore and Chicago did not see much change in their housing price index.
Homes listed on RealtyTrac saw a similar rise in price, increasing by 4 percent since April 2012. The index report showed that number of bank owned properties was dropping, accounting for only 16 percent of total home sales. The number of properties that received a foreclosure filing in May was 28 percent lower than it was in 2012, according to RealtyTrac.