The good news is that home sales in March weren’t any lower than they were in February, but they’re weren’t any higher either.
And just like February, sales for this March are lower than they were in March 2013, 2012 and 2011. February’s report is HERE
But for those homes that did sell in March, average sold prices jumped back up and median prices are up too, they are from February anyway.
So there we are, March, in, and out with a whimper.
And to make better sense of what’s happening with prices, here’s a chart showing quarterly prices from the1st Qtr 2012 thru the current Qtr.
So prices are drifting up. And it’s interesting, this phenomena of falling sales and rising prices reminds me of 2006 when sales fell about 25% from 2005 but prices continued to rise. Until they didn’t.
Also, the number of homes going to contract has risen during the last few weeks and that will lead to higher sales in April. So maybe this season is just a late bloomer, aha.
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