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Home Prices Climb 5.8% Year-Over-Year: RE/MAX

Home prices rose year-over-year on average for the second straight month, according to ""RE/MAX"":http://www.remax.com/.

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Of 53 metro areas surveyed by the real estate company, RE/MAX found that median prices climbed 5.8 percent higher than in March last year.

Home sales moved in the same direction by cresting 25.4 percent higher than in February, a shift upward

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year-over-year by 1.5 percent.

Thirty-three metro areas saw double-digit leads, including Wilmington (41.8 percent), Omaha (30.6 percent), Providence (26.6 percent), Tulsa (26 percent), Chicago (23.7 percent), Milwaukee (21.4 percent).

The company chalked up the good news for prices and sales ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô with the latter tracking a nine consecutive month lead so far ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô to improvements in weather, low interest rates, better prices, and signs that consumers feel more comfortable with spending.

""With buyers starting to jump into this market, this year's selling season is shaping up to be the strongest we've seen in years,"" said ""Margaret Kelly"":http://www.remax.com/national-corp/biographies/margaret_kelly.aspx, CEO of RE/MAX, LLC. ""Although we don't expect home prices to rise in every market at the same rate, the worst is definitely behind us, and a slow, steady recovery is taking hold.""

RE/MAX said that average days on market totaled 101 days for homes sold in March, two days shy of the figure reported in February and three days less than figures seen in March last year.

About Author: Ryan Schuette

Ryan Schuette is a journalist, cartoonist, and social entrepreneur with several years of experience in real-estate news, international reporting, and business management. He currently lives in the Washington, D.C., area, where he freelances for DS News and MReport.
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