US Home Sales Shoot Up to 10-Year High

Judith Bessette
Abril 21, 2017

Meanwhile, the median price for an existing home was $236,400, up 6.8% from March 2016's $221,400 and marking the 61st consecutive month of year-over-year gains.

The National Association of Realtors said on Friday that existing home sales increased 4.4 percent to a seasonally adjusted annual rate of 5.71 million units last month. Sales were up 5.9 percent from March 2016, hitting their highest level since February 2007.

Americans purchased homes in March at the fastest pace in over a decade, a strong start to the traditional spring buying season. Listing shortages are an ongoing source of frustration for the housing industry, since sales might be higher if buyers weren't struggling to find available homes in desirable locations at palatable price points. "Sales may be soaring, but inventory isn't". In February the national median price was also $228,400.

Sales of United States existing home sales rose more than expected in March, to their highest pace in more than 10 years, according to data from the National Association of Realtors.

The number of homes available for sale grew 5.8 percent month-on-month; however, it stayed low at 1.83 million by historical standards. This marks the 22nd consecutive month of annual inventory decreases.

At March's sales pace, it would take 3.8 months to clear the stock of houses on the market, unchanged from February.

Politics hasn't stopped the growth of Ivanka Inc
Klem also noted the sudden " surge in trademark filings by unrelated third parties trying to capitalize on the name ". Whether trademarks run afoul of such rules is a matter of debate between the Trump administration and its critics.

Since December existing home sales activity in the USA has been very volatile.

Absent more homebuilding, he added, "prices will continue to far outpace incomes and put pressure on those trying to buy".

However increased competition caused homes to soar off the market as properties typically stayed on the market for 34 days in March, down significantly from 45 days in February and 47 days past year. On the other hand, sales activity in the West continued to drop for the second straight month, falling 1.6 percent. But the housing market, broadly, still is tipped in favor of sellers.

Mortgage buyer Freddie Mac said April 20 that the average interest rate on 30-year fixed-rate home loans declined to 3.97 percent this week from 4.08 percent last week. The median price in the South was $210,600, up 8.6% from a year ago.

Economists surveyed by MarketWatch had forecast a 5.63 million rate. Wealthier investors, who were willing to pay in cash, made up an above-average share of the market and held a competitive advantage over first-time buyers, the NAR said.

Outros relatórios LazerEsportes

Discuta este artigo

SIGA O NOSSO JORNAL