April 25, 2011
Mortgage Market Recap
- RE/MAX reported that home sales increased by double-digits in March from February in all but one of the 54 U.S. metropolitan areas it covers. This represents a complete reversal from January, when none of the 54 cities saw even single-digit monthly sales increases.
- The National Association of Realtors corroborated Re/Max's bullish report with one of its own. The NAR's data show that March was a decent month for existing home sales, with sales up 3.7 percent to an annualized rate of 5.1 million units. Prices also firmed slightly, up 2.2 percent, to a median reading of $159,600. More homes were on the market, 3.55 million, but the solid rise in sales dropped the supply to 8.4 months.
- See more of the market recap and important dates/events at: http://www.carrieandtyhomes.com/weekly-market-recap.asp
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