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Report finds housing market reaching a state of price balance

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The U.S. housing market was at near perfect price equilibrium in April 2015, according to real estate analytics firm RealtyTrac, World Property Journal reported. Out of 315 counties nationwide with a population of at least 100,000 and at least 100 sales in April, there were 85 (27 percent) where homes on average sold for at least 101 percent of their estimated full market value; 44 (14 percent) where homes on average sold for 100 percent of their estimated full market value; and 186 (59 percent) where homes on average sold for less than 100 percent of their estimated full market value. The median sales price was $171,700 in April, down 1 percent from March but still up 2 percent from year ago.