A blog about real estate listings and events in Alexandria MN, Longville MN, Nisswa MN, Crosslake MN, Walker MN, Brainerd MN, Breezy Point MN, Pequot Lakes MN, Hackensack MN. Also covers the Brainerd Lakes Area, the Gull Lake Chain, The Whitefish Chain, the Woman Lake Chain, Leech Lake, Mille Lacs Lake, Pelican Lake, Minnesota Vikings, Twins, Wild, Minnesota Timberwolves, Minnesota Lynx, Minnesota Tourism, Explore Minnesota, Minnesota Golfing, Skiing, Boating, Snowmobiling, Hunting, Fishing.
Wednesday, April 23, 2014
RE/MAX National Housing Report
March Home Sales Rebound, Prices Rise Higher
For the first time in 2014, March saw home sales increase over the previous month. While sales were 10.1% below the levels of one year ago, they rose a significant 24.6% 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% higher than the median price in March 2013. 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.
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