Median list prices jumped 1 percent or more on a year-over-year basis in February for about 73 percent of the 146 markets tracked in a report released this week by Realtor.com.
On a national basis, the median list price rose about 7 percent year over year in February.
Among the top 10 markets for the highest year-over-year hike in list prices in February, seven were in Florida — Miami topped the chart with a 26.2 percent increase, according to the report.
Realtor.com also reported that the inventory of U.S. for-sale housing dropped 22.02 percent from a year ago, according to site data updated through February.
The company also reported that median age of inventory for homes posted on the site fell 9.76 percent year over year, with the median list price rising 6.82 percent.
"The nation’s housing markets as a whole are in better shape today than at any time since the 2009-2010 tax credits," according to a statement by Realtor.com that accompanied the data’s release.
|Data Point||Percent Change, Feb. 2012 vs. Feb. 2011|
|Number of Listings||-22.02%|
|Median Age of Inventory||-9.76%|
|Median List Price||6.82%|
For-sale inventories, though greatly reduced on a year-over-year basis in February, are likely to increase with the spring selling season. Current inventory levels are close to a two-year low, the data shows.
The median list price of homes tracked by Realtor.com rose $2,500 between January and February 2012, to $188,000, which is 6.82 percent higher than the median list price was a year ago when it was at a two-year low. February 2012’s median list price is on par to what it was in February 2010.
Data show some signs of recovery in some markets that were hard hit by the housing downturn, like Phoenix and those in Florida. In February 2012, markets in Florida, Arizona and California represented a majority of the metro areas in the top 10 for greatest year-over-year reductions in for-sale inventory.
Bakersfield, Calif., topped the list with a 49.73 percent reduction in its for-sale inventory.
Only two markets showed a year-over-year increase in for-sale inventory, according to the data: Philadelphia and Springfield, Ill.
This suggests, according to the report accompanying the data, that "the most troubled housing markets are gradually moving away from the "sand states" and into more industrialized areas in the Midwest and Northeast."