Home Sales Report March Of 2012

By
Real Estate Agent with Sellstate Pacific Realty BRE #01044712

On April 25, 2012 National Association of Realtors® (NAR) reported that nationwide existing home sales in March of 2012 were down 2.6% from February 2012, but 5.2% higher than March of 2011.

Investors bought 21% of the inventory in March 2012, lower than 23% in February of 2012, and 22% of March of 2011. First time buyers acquired 33% of homes in March of 2012, lower than 32% February of 2012, but same as 33% in March of 2011. Cash buyers purchased 32% of all sales in March of 2012 higher from 32% in February 2012; but same as 33% in February 2011. Investors make up the bulk of cash transactions.

Total available housing inventory dropped 1.3% at the end of March to 2.37 million, a 6.3 month supply of inventory, same as in February of 2012. Home sales, in the Northeast were down 1.7%, in the Midwest were same as February 2012, in the South declined 1.1%, and in the West were down 7.4% in March of 2012, according to Walter Molony of www.realtors.org on April, 2012.

It appears that many home buyers were not motivated enough to take advantage of low interest rates and lower priced distressed properties to buy real estate in March of 2012. However, there is a sign of improvement compare to same time of a year ago.

For more complete information, on the March of 2012 existing home sales, please
CLICK HERE

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Rainmaker
74,356
Todd Hays
Exit Real Estate Professionals

In Spokane inventory is down, but sales (volume) is up. Supply and demand says prices should start coming up.

April 30, 2012 05:18 PM
Rainmaker
1,228,683
Michelle Gibson
REALTOR
Hansen Real Estate Group Inc.

John - Our home sales are up from last month, I'll have to check how it compares to a year ago.

May 03, 2012 06:53 PM
Rainmaker
937,619
Adrian Willanger
Profit from my two decades of experience
206 909-7536 TheHomeFunnel.com

John-very good "big picture" report. Hopefully with inventories coming down it will help with the motivated stepping up and perhaps we will see prices start to rise? Have a great week-end,

May 04, 2012 08:34 AM
Rainmaker
1,141,322
John Pusa
Your All Time Realtor With Exceptional Service
Sellstate Pacific Realty

Todd, if the inventory is down in Spokane that mean real estate market improving. Thanks for the comment.

Michelle, it is good sales are up from last month. Thanks for the comment.

Adrian, yes, hopefully lower inventories will increase the prices. Thanks for the comment.

May 04, 2012 05:42 PM
Rainmaker
1,306,968
Ron & Alexandra Seigel
Luxury Real Estate Marketing
ra@napaconsultants.com

John,

We cheer all signs of improvement, big and small.  Wishing you continued success.  A

May 06, 2012 11:36 AM
Rainmaker
682,069
Ron Marshall
Birdhouse Builder Extraordinaire
Marshall Enterprises

We'll take any improvement.  And, some markets are still really hot right now.  Best, John.

May 08, 2012 05:05 PM
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Rainmaker
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John Pusa

Your All Time Realtor With Exceptional Service
I will be very happy to assist you with your real estate needs.
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