The spring housing market may have more momentum than many expected, at least according to a new report from ICE.

I'm Kathy Fedke, and this is real estate news for investors.

This is Real Estate News with Kathy Fedke.

According to the Intercontinental Exchange, or ICE, home prices picked up in April, posting

their strongest monthly gain in nearly two years.

ICE says prices rose 0.32% on a seasonally adjusted basis.

And that may sound small, but annualized, that's nearly a 4% pace.

And here's what's interesting. 90% of housing markets saw price gains in April.

That's the broadest market strength we've seen in almost two years. But not every region is

moving the same way. The Northeast continues to lead home price growth. In fact, seven of the eight

fastest appreciating markets were in the northeast.

Meanwhile, every major market showing year-over-year price declines was located in the south or the west.

For investors, that regional split is worth watching.

It shows some markets are still seeing strong price appreciation, while others in the South

and West are working through softer pricing.

The report also showed first-time buyers are coming back.

More than half of all purchase loans in March went to first-time home buyers.

That's the highest share since mid-2020.

Lower mortgage rates earlier this year appear to have

helped bring those buyers back into the market. Ref financing activity also surged. I says first-lean

refinance volume hit $242 billion in the first quarter. That's more than double last year and the

strongest quarterly refinance activity

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