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Second Quarter Home Prices Show Improvement

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The trend in firming home prices solidified in the second quarter with more metropolitian areas showing increases from a year ago, aided by a surge in sales driven by the homebuyer tax credit, according to the latest survey by the National Association of Realtors.

The national median existing single-family price was up 1.5 percent from the same period last year. Distressed homes accounted for 32 percent, down from 36 percent a year ago.

Total state existing-home sales, including condos, rose 9.1 percent for the quarter, and were 17.3 percent above the pace in the second quarter of 2009.
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