Realtor.com, which has more than 4.2 million active residential listings, each month tallies the top 10 metros for the largest increase in median listing price. Changes in asking prices are typically correlated with changing market conditions, and once again these indicate a recovering housing market.
Good news is that many of these cities were among the harder hit communities in the burst housing bubble.
Nationwide, the number of active listings fell by 18.85 percent in April compared to the same period each month. Realtor.com reports the inventory status for 146 individual metro markets. Inventory from April 2011 to April 2012, as reported by Realtor.com fell in all but 5 of the metros.
I fully anticipate these trajectories to keep tracking as many markets today have very minimal inventories. Couple that with all-time record low interest rates and rising rents, the outlook for housing is the best in five years.