Large regional markets across the country are leading the way to a national recovery, according to Realtor.com’s Real Estate Health Report for the month of May 2013. As seller confidence matches consumer demand, more homes are going on the market for a shorter amount of time. Conditions for market recovery have been bolstered by strong regional markets experiencing key growth and California markets, in particular. continue to lead the list of the country's top performing housing markets in median list price increases. Filling out the list are Phoenix, Ariz.; Detroit, Mich.; Reno, Nev.; Jacksonville, Fla. and Orlando, Fla.
The data reveals that in May, the total number of single-family homes, condos, townhomes and co-ops for sale in the U.S. increased by 5.82 percent month-over-month. On an annual basis, May 2013 inventory decreased by 10.11 percent. In addition, the median list price ($199,000 for May 2013) rose by 2.10 percent over the month and by 4.79 percent year-over-year.
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