Re/Max National Housing Report
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| Credit: Freedigitalphotos.net By: digitalart |
The housing report for March has come out and it bears some very encouraging news. March home sales increased by 24.6% over February sales. Every single one of the 52 Metro areas surveyed for the March RE/MAX national housing report experienced an increase in sales from February’s stats. Additionally, the median home price last month was 8.8% higher than those from March of last year. An increase in home prices can be attributed in part to falling inventory which has caused home prices to go up. March is the 12th month in a row to experience fewer inventory losses than the month before. RE/MAX CEO Margaret Kelly sums up the market by stating, “Clearly, unexpected winter storms resulted in a slow start for housing this year, but the strong rebound in March sales could build momentum for spring and summer. Many potential homebuyers who weren’t able to get out and tour homes in January and February may still enter the market and impact sales in the next few months.”