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RealtyTrac: Home prices up 13% due to high-end sales

IRVINE, Calif. – June 24, 2014 – In RealtyTrac’s May 2014 Residential & Foreclosure Sales Report, U.S. residential properties – single family homes, condominiums and townhomes – sold at roughly the same rate as they did one month earlier and less than 1 percent higher year-to-year.

However, total sales include a lot more “normal” sales than in recent months, causing, in part, a median sales price ($180,000) rise of 6 percent month-to-month and 13 percent year-to-year.

May’s year-over-year increase was the second consecutive month with a double-digit annual increase in U.S. home prices, and the biggest annual increase since U.S. home prices bottomed out in March 2012

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