RE/MAX National Housing Report April 2014 

For the first time in 2014, March saw home sales increase over the previous month. While sales were 10.1 percent below the levels of one year ago, they rose a significant 24.6 percent higher than February sales. Every one of the 52 metro areas surveyed for the March RE/MAX National Housing Report saw an increase in sales over February. The median price of homes sold in March was 8.8 percent higher than the median price in March 2013.

“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.” Margaret Kelly, RE/MAX CEO.

A continuing low inventory of homes for sale has pressured prices to rise, especially in markets that have experienced an accelerated recovery. On a year-to-year basis, March became the 12th consecutive month with fewer inventory losses than the previous month. At the rate of sales in March, the Months Supply of inventory fell to 4.1, where a supply of 6.0 indicates a market balanced equally between buyers and sellers. To read a full copy of the RE/MAX National Housing Report for April 2014, click here.

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