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. While home prices in many Western and pandemic boom markets are still well off their peaks, 40% of major markets have seen prices return to peak levels, according to Black Knight‘s mortgage monitor report.

Nationally, home prices rose by 0.45% in March on a seasonally adjusted basis, slightly stronger than the revised 0.43% increase from the prior month.

“The strengthening in home prices is the direct result of a second month of modest increases details ⇒

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