San Gabriel Valley Real Estate

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Home Sales Vault to 18-Month High as Supply Improves

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‘Stale’ homes are tightening up the housing market

Home sales vault to 18-month high as supply improves

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What you should know …

 Sales of new single-family houses in March 2015 tumbled back down to a seasonally adjusted annual rate of 481,000, 11.4 percent below last month’s revised estimate of 543,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development.

 The median sales price of new houses sold in March 2015 was $277,400; the average sales price was $343,300. The seasonally adjusted estimate of new houses for sale at the end of March was 213,000.

 While sales did drop, they were 19.4 percent above the March 2014 estimate of 403,000. It is expected that the fall is more likely to be a temporary payback after strong growth in previous months rather than a sign that housing activity is starting to cool again.

Beyond_the_Headlines_04-23-15

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This entry was posted on April 24, 2015 by and tagged , , , , , .

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Rich & Annie Reed
REALTORS
Long Dragon Realty
CalBRE# 01906230 & 01894384

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626-538-5116

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