Real Estate News by the Numbers

Percentage that the volume of homes for sale rose year-over-year in March 2014.

If you are looking to buy a home this spring, a report released last week should make you smile. Realtor.com released The National Housing Trend Report for March, and the report was filled with good news for those looking to buy a home in the spring. The report showed the real estate market is in a much healthier state this March when compared to last March, with three measures all pointing to a healthy market.

There were three major points of good news:

1. There are more houses on the market, with a 9.5 percent increase in units for sale versus last March, as the total number of units for sale increased to 1,841,844. This is good news for home buyers, as more inventory means less intense competition, and more chances to find a home.

2. Homes are staying on the market for a longer time. The median age of inventory, or number of days a house stays on the market before it is sold, increased 22.9 percent to 102 days. This is also good news for homebuyers, as it suggests that competition is not so intense that houses almost immediately come off the market as soon as they are added. More inventory also helps keep home prices from increasing too quickly.

3. The median price for homes for sale increased just 5.3 percent to $199,900. When inventory is small and houses sell fast, prices can increase quickly, pushing out first-time buyers and making it more difficult for homebuyers to find a house they can afford. “Bidding wars in many markets last year frequently elevated offer prices beyond the reach of first-time buyers who could scarcely save for the down payment,” said Steve Berkowitz, CEO of Move, the company that owns Realtor.com.

*GOD Speed*
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http://www.tomurazrealtor.com
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