In the 53 metro areas surveyed for the March RE/MAX National Housing Report, the average number of home sales increased 9.9% over sales in March 2014 and were 33.9% higher than February sales.
The increase from February also marks the third largest increase from February to March. Every metro experienced double-digit month-over-month sales increases except Baltimore, which saw an 8.4% monthly increase. In March, 43 of the 53 metro areas surveyed reported higher sales on a year-over-year basis, and 31 of those saw increases in double-digits.
March home sales rose a significant 33.9% over sales in February. This marks the third largest single month increase since the RE/MAX National Housing Report began in August 2008. The total number of home sales in March was the largest total of any previous March. When compared with sales last March, the increase was 9.9%. The Median Sales Price of $204,000 in March was also higher than last year by 8.5%. The inventory of homes for sale appears to be stabilizing, with only a fractional loss of 0.4% from February. With a higher rate of sales, the resulting Months Supply of inventory fell further to 3.7 on a scale where 6.0 months indicates a market balanced equally between buyers and sellers.
“The prime selling season this year is starting with a bang. After a harsh winter, it appears many consumers are eager to get out and shop for a new home, despite lingering inventory issues and rising prices. The many positive stories we’re hearing from our agents across the country are reflected in these very impressive March numbers.”
Dave Liniger, RE/MAX, LLC CEO, Chairman and Co-Founder.
The complete report can be read here: REVISED_REMAX
Please contact us to help you to sell your home and find the home of your dreams! We specialize in Laguna Beach, Newport Beach, Dana Point, San Clemente and our inland coastal communities.
Make it a great day!