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U.S. Existing Home Sales Rise as Properties Draw Quick Bids



Sales of previously owned U.S. Real Estate Real Estate Monthly Highlights: Highlights of Existing Home Sales (1

965) Highlights of Existing Home Sales (1965) March)
  • Contract closings advanced 1.1% m / m to 5.6m annual rate (est. 5.55m), from 5.54m
  • median sales price rose 5.8% y / y to $ 250,400
  • Inventory of available properties fur 7.2% y / y to 1.67m, 1999, for data back to 1999

Key Takeaways

The increase reflected gains in higher-priced homes as well as condominiums and co-op units, according to NAR. Even with the advance in sales, issues about low inventory remain prominently, with the limited number of new assets.

Sales of homes priced between $ 100,000 and $ 250,000 were down 7.8 percent from a year ago, while homes at $ 750,000 or above were up more than 15 percent. NAR said it is due to be picked up in late fall or fall because of it. There's potential for regulatory changes among small banks, a key source of loans to homebuilders.


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