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Nationwide, U.S. home sale prices increased by 9.3% in May 2014 compared to May 2013. From April 2014 to May 2014, the price of sold homes rose by 1.1% while the overall number of homes for sale also increased.
Distressed sales were at their lowest rate since December of 2007, at 12.5%. And compared to May of 2013, short sales of homes were down 32%.
Since bottoming out in March of 2012, the Case-Shiller Index, which measures markets including approximately half of American homes, has risen 27.3%, although home prices nationwide are still 17% below their summer 2006 peak.
Consumer confidence rose to its highest level in almost seven years, according to July measures from the Conference Board. Homebuilder confidence, too, is up. The National Association of Home Builders asks builders about their perception of current home sales, sales expectations for the next six months and traffic of expectant buyers. This confidence indicator is now at 53, its highest level in nearly six months. Any score over 50 indicates that more builders view market conditions favorably than view them negatively.