US housing market shifts direction, signals end to steady decline

Home prices across the US rose for a second straight month in March, indicating the housing market downturn may be over after seven months of declines.
While year-over-year price growth remains modest, the increase surprised experts and suggests limited inventory and high demand are driving prices up in some cities.
The Southeast and parts of the West saw the strongest price gains, but high-cost areas like San Francisco and Seattle also saw month-over-month increases after declines.
The housing market faces headwinds from rising mortgage rates and economic uncertainty, but price drops may be bottoming out.
A tighter supply of homes for sale continues to put upward pressure on prices, especially in more affordable cities, while expensive cities adjust to weaker demand.