INLAND EMPIRE – (INT) – More homeowners are breathing a sigh of relief. Fewer are ‘underwater’ as their homes are worth more than their outstanding mortgage.

Home values have been steadily rising for more than two years. But as DataQuick’s Andrew LePage points out “We’re still fairly early in this housing recovery.”

Inland Empire homes being sold are averaging nearly $100,000 more than the low point that was hit in early 2012. The average is still 38 percent below the peak of 2006.

As for what’s ahead, LePage says the inventory of homes for sale will be a big factor.

“How many more people are going to put their home up for sale now that those homes are worth an average of 20 percent more than a year ago. The more prices rise, the more people are interested in selling. That adds to the inventory.”

The average Inland Empire home sold for $259,000 in March. That compares to $165,000 in January 2012.

Story Date: April 19, 2014