In April, U.S. home prices had their highest gain since February 2006, coming in at an increase of 12.1 percent from the previous year.
In addition to the increase from last year, home prices also increased from March by 3.2 percent, up from 1.9 percent in the previous month. Prices rose in 48 of the 50 states. Sales of previously occupied homes is also at a 3 1/2 year high, and are likely to keep growing at a high rate. In 94 of the 100 largest cities, home prices also increased, which is up from 88 last month.
This is a great showing for everyone looking to sell homes, and a sign for everyone looking to buy a new home that now is the time before the market goes up further. This increase in housing prices shows that the economy is growing back and becoming stronger. More people are feeling comfortable purchasing homes now that the economy is starting to recover slightly.
If you are interested in purchasing a new home check out our current Nashville real estate listings here.