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Home Sales Bounced Big in March, But Lag January Pace

Wednesday, April 20, 2016

Spring market buyers got down to business in March and existing home sales rebounded, up 5.1 percent but didn't quite recover from a disappointing February.  The National Association of Realtors® NAR said sales during the month were at a seasonally adjusted annual rate of 5.33 million with sales especially strong in the Northeast and Midwest but first-time buyers were still missing from the equation. 

Compared to March 2015 existing home sales were up a modest 1.5 percent. February sales numbers, which had surprised many by retreating by 7.1 percent from January's, were downgraded further today, from 5.08 to 5.07 million.

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