New Home Sales for March

Nationally, New Home Sales, which measures signed contracts on new homes, were up 5.8% in March at a 621,000 unit annualized pace. This was much stronger than estimates of 588,000. Today’s figure was the 2 best number in 9 years.  The Median Home Price was reported at $315,100 and inventory remained tight at a 5.2 month supply – there were 268,000 new homes for sale at the end of March. This strong report comes on the heels of Existing, which is 90% of market, was at a 10 year high.

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If you have any questions, please let me know.

All the best,

Lee McLain

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March Existing Home Sales

The Spring housing marketing is off to a strong start.  Existing Home Sales, which tracks closings on Existing Homes, were up 4.4% in March at a 5.710M unit annualized pace and it’s best number in 10 years. Sales are up 5.9% year over year.  If you are thinking of selling your home, now is a great time to list.

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If you have any questions, please let me know.

Thanks for your time,

Lee McLain

Pending Home Sales 3-29-2017

The National Association of Realtors (NAR) posted the February numbers.  What is really impressive is the number of homes that are going under contract with the lack of inventory currently available.  Here is the article – https://www.nar.realtor/news-releases/2017/03/pending-home-sales-leap-55-in-february

And as always, if you have any questions please let me know.

All the best,

Lee McLain