Page 29 - Andy Walden News Today : Breaking News, Live Updates & Top Stories | Vimarsana

In March, a modest bump in homebuyer demand, combined with a decline in for-sale inventory, drove up home prices compared to the month prior.

“A modest bump in homebuyer demand [this spring] ran headlong into falling for-sale supply,” says Andy Walden, VP of enterprise research strategy at Black Knight.

A new analysis of millions of home and condo sales pinpoints when homeowners should sell to maximize their profit.

While home prices continue to fall on an annual basis, new data from Black Knight indicates that the trend may not continue beyond the short term. The company’s March Mortgage Monitor shows its seasonally adjusted Home Price Index (HPI) rose 0.45 percent in March (the largest increase since last May) and was up 1.38 percent before adjustment. The latter number is roughly on par with the 10-year March average of 1.43 percent, typically the strongest monthly uptick each year. Further, revisions to the January and February HPI numbers show monthly gains of 0.13 percent and 0.43 percent...

A sharp drop in new listings, adding to an already meager supply of homes for sale, is leading to renewed bidding wars.