- Existing-Home Sales down in March
Market news
22 April 2014
Existing-Home Sales down in March
The National Association of Realtors published existing-home sales in the USA. Sales of previously owned homes declined 0.2 percent to a seasonally adjusted annual rate of 4.59 million in March from 4.60 million in February. The projected value was 4.57 million.
Sales dropped 7.5% in comparison to March 2013. On the other hand, the median existing-home price was up 7.9% to $ 198,500.
The National Association of Realtors chief economist Lawrence Yun said that price growth is rising faster than historical figures caused by inventory shortages. But he expects improvement in the next months. Ongoing job creation, reduction of inventory shortages and moderate increase of mortgage interest rates are needed to improve the current situation.
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