RealtyTrac recently reported that home sellers throughout the country experienced the greatest monthly price gains in March than any other month since 2007, just before the onset of the Great Recession. That month, homeowners sold their homes for an average of $30,500 more than what they paid for—a record price gain of 17 percent since December 2007. According to Daren Blomquist, Senior Vice President of RealtyTrac, these numbers should remain promising for homeowners throughout the U.S. 

“Home sellers in many markets are now seeing average price gains close to or above what home sellers experienced during the last housing boom,” reported Daren Blomquist. “That should encourage more homeowners to take advantage of the prime seller’s market and list their homes for sale this year. Banks are already taking advantage of that market as evidenced by the uptick in the distressed sales share over the last two quarters.”

Although home price gains may seem like unfavorable news for prospective homebuyers, an increase in supply to the housing market may actually benefit the consumer as well. Home prices are essentially driven by the number of vacant houses on the market, so a higher number of available homes will ultimately force prices to drop. With more housing options, the buyers will have more negotiating power—which will help regulate the market balance and future price gains.