Home sales decreased year over year.
The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of 5.2 million in March, down 4.9 percent from February, and 5.4 percent below the 5.5 million sales pace from a year ago.
Home prices have continued to increase year-over-year.
The median home price increased to $259,400 in March, up 3.7 percent from February. The median home price has increased by approximately $9,600 in the past year alone.
Inventory – Month’s Supply
There was a 3.9-month supply of housing inventory in March 2019, up 8.3 percent from February. The total number of available homes for sale has increased by 11.4 percent compared to March of last year.
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