A new report shows Las Vegas had the biggest adjusted monthly home price increase with prices at a 2 percent climb. The report suggests that housing inventory remaining tight with the combination of rising demand has exerted upward pressure on home values. "Home prices continue to show solid increases," said David Blitzer, Chairman of the S&P/Case-Shiller index of property values. "Housing continues to be one of the brighter spots of the economy."
According to data from the National Association of Realtors, there were only 1.93 million previously owned properties on the market last month (the fewest of any March since 2000).