March Existing Housing Sales Down, Demand Up

By
Real Estate Agent with CENTURY 21 MarketLink Realty MN Broker #20444572

Well, existing home sales data for last month is out and the numbers were lower in March than in February.  According to the NAR press release existing home sales were down 2.6%.  Lawrence Yun, the National Association of Realtors Chief Economist, blames the lower sales on the lack of homes for sale.  He also says that the level of activity is higher year over year.  The reported data seems to confirm his opinion.

Average prices are up in most broad markets, due probably to more buyers and fewer homes for sale.  Although it is harder to find an opportunity today that is as good as last April, continued low interest rates still provide attractive and beneficial opportunities.  Smart buyers are buying now, and smarter buyers are enjoying the homes they bought last year.  We will probably be saying the same thing next April.

If you have a lease that is set to renew in the next six months, now is the time to  begin planning your "Landlord Firing" event.  Take your pick, rent increase or low interest rates on home financing, your rules or your landlord's rules, pay your own mortgage or pay his.  Call me to arrange for a free buyer orientation and planning session.

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Rainmaker
967,956
Edward & Celia Maddox
Solutions Real Estate - Queen Creek, AZ
We Take The High Road

We are still seeing an upturn in sales, and a reduced inventory.  Many homes receiving multiple offers.

April 19, 2012 07:42 AM #1
Rainmaker
1,145,548
John Pusa
Sellstate Pacific Realty - Glendale, CA
Your All Time Realtor With Exceptional Service

E.J. Thank you for sharing detailed quality information on March existing housing sales down demand up.

April 19, 2012 09:27 AM #2
Rainmaker
1,738,392
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I was in 3 multiple offer situations with my client last week.  They vow not to let the next one get away.

Good home inventory is short.

April 19, 2012 12:29 PM #3
Rainer
145,762
Michael S. Bolton
Michael S. Bolton,Inc. - Zimmerman, MN
MN Appraiser

Hey Mike~Inventory levels are pretty low in many areas, hopefully that trend continues so we can get prices to move upwards also.

Have an AWESOME evening!

 

April 23, 2012 08:34 PM #4
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Rainmaker
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E.J. "Mike" Carlier

Lakeville MN
Everyone has opinions -- what's yours?
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