New Home Sales for March

Nationally, New Home Sales, which measures signed contracts on new homes, were up 5.8% in March at a 621,000 unit annualized pace. This was much stronger than estimates of 588,000. Today’s figure was the 2 best number in 9 years.  The Median Home Price was reported at $315,100 and inventory remained tight at a 5.2 month supply – there were 268,000 new homes for sale at the end of March. This strong report comes on the heels of Existing, which is 90% of market, was at a 10 year high.

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If you have any questions, please let me know.

All the best,

Lee McLain

March Existing Home Sales

The Spring housing marketing is off to a strong start.  Existing Home Sales, which tracks closings on Existing Homes, were up 4.4% in March at a 5.710M unit annualized pace and it’s best number in 10 years. Sales are up 5.9% year over year.  If you are thinking of selling your home, now is a great time to list.

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If you have any questions, please let me know.

Thanks for your time,

Lee McLain