Homes.com, a leading online real estate destination and a division of Dominion Enterprises, has released its latest Local Market Index, a price performance summary of repeat sales of properties in the U.S. Utilizing home pricing data for the period ending May 2013, the index showed gains for single-family properties in 83 of the top 100 markets, down 17 markets from all 100 markets which improved in the previous month’s report.
Month-to-month decreases were marginal, with the largest decrease by only 1.12 index points in Worchester, Mass. All 100 markets reported year-over-year gains, with three California markets in the top five (San Francisco, Los Angeles, and San Diego).
As a complement to the Local Market Index, Homes.com released an exclusive Rebound Report, highlighting how the housing recovery process is unfolding across the country.
Rebound data for May 2013 revealed that 19 markets across the U.S. are fully recovered – up from the previous month’s 14 markets. Additionally, 39 U.S. markets now show a rebound of 50 percent or more.
“The findings of the latest Homes.com Rebound Report confirm the increased confidence and continuing recovery in the housing market,” said Brock MacLean, executive vice president of Homes.com. “With five new markets reaching a full recovery over the last month and modest gains in some of the already fully recovered markets, the overall rebound of the U.S. housing market continues to move forward.”