Sales prices for homes jump 16.4 percent in April

Median home prices in April rose 16.4 percent on an annual basis, to $262,409, in 24 metro areas nationwide, according to a report from real estate brokerage and technology provider ZipRealty.

The number of new listings on the market rose 8 percent in April compared to April 2012, but for-sale inventory remained 30 percent below last year’s level. Sales closed 32 days, on average, after being listed, and sold for 98.6 percent of the asking price.

In addition to Las Vegas, four areas in California saw the biggest price increases: the San Francisco Bay Area, Orange County, Sacramento and Los Angeles.

Source: ZipRealty