Home prices rise in March
In March, home prices rose for the first time since last July, due to a tighter housing inventory, Reuters reported.
Data analysis firm CoreLogic Inc.’s home price index gained 0.6 percent from February but was still down 0.6 percent compared with March a year ago.
Excluding sales of distressed properties, prices climbed 0.9 percent on a yearly basis. “This spring, the housing market is responding to an improving balance between real estate supply and demand, which is causing stabilization in house prices,” Mark Fleming, chief economist at CoreLogic, said in a statement.