Home sales cool, but prices march forward

Limited inventory and harsh winter weather slowed home sales last month, but home prices continue to rise.   March is now the fifth straight month of lower year over year sales declines.  The median home price of March closings did rise to $190,000 a 7.6% increase.   Experts contradict fears of a slowing recovery and cite weather and increases in listings as home owners see equity increases.  Homeowners and Realtors are optimistic and excited over signs of a brisk start to the spring selling season.  Home in all price ranges are seeing less time on the market, but affordable move in ready homes are in high demand.

If you are thinking of selling your home, I would not delay.  Take advantage of the low inventory (less competition for your home) and list now.  Increased supply of homes for sale may increase sales numbers, but may flatten price increases.  Contact Phil for a market analysis or to list your home.

Full Article-Buchta, J. (2014, April 11). Home sales cool, but prices march forwardMinneapolis Star Tribune.

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