REALTOR Market Index and Price Index hit all-time highs in April

Today we issued the results of our April 2012 REALTOR® Market Index (RMI) and REALTOR® Price Index (RPI). We’re going to take the same tact we did last month and go straight to the highlights.

• Both the RMI and the RPI were up compared to the same time last year and compared to March 2012.
• This is the 9th straight month the RMI was up over the same time last year
• The RMI hit its highest mark since the data has been tracked.
• The RPI hit an all-time high mark in April
• April was the third straight month that the RPI was over the 50-point mark. The only other time this has happened was February-April 2010 – the last three months of the home buyer tax credit was available.

Hot Topic:

This month’s “Hot Topic” question asked REALTOR(R) members how low appraisals were impacting the closings of homes that received competitive and multiple-bid offers in this improving market. .

Click here to read the full release: April 2012 Realtor(R) Market Index and Realtor(R) Price Index

Data points:

• REALTOR® Market Index in April was 56.31. Up 86% from the same time last year
• REALTOR® Market Index in April was up 13.7% from March 2012
• REALTOR® Price Index in April was 59.86.  Up 23.1% from the same time last year
• REALTOR® Price Index in April was up 3.7% from March 2012