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Report: Median prices, inventory increases in majority of metropolitan markets

The number of homes available and the price of these properties increased during April.

The number of homes available and the price of these properties increased during April.

According to the most recent report from Altos Research, the median home prices and inventory both experienced increases in a majority of surveyed metropolitan areas.

In all, Altos covered 26 markets for its report and discovered the average median price grew to $440,194 during April, which is a 1.82 percent increase month-over-month. San Francisco experienced the largest average price increase, jumping 4.87 percent. San Jose followed with 4.32 percent. Only New York and Las Vegas saw their median prices decrease. However, the drops were minimal, as the greatest fall was only just over 1 percent.

Inventory increases were abundant during April, which is a positive sign for those interested in moving. Overall, the number of available units nationwide increased by 11.45 percent. Boston had the greatest increase, with 19.18 percent more units available during the month. San Francisco, Austin, Washington, D.C. and Philadelphia rounded out the top five. Just three markets - Phoenix, Miami and Salt Lake City - did not experience an increase in inventory during the month.

The continued improvement for median prices and inventory is an optimistic sign for the real estate market, as it looks to rebound further from the recent recession.