Existing Home Sales Dip 2.7% in March

The National Association of Realtors is reporting that existing home sales were down 2.7% in March to a seasonally-adjusted annual rate of 5.77 million (down 4.5% from one year ago). Total housing inventory at the end of March was 950k units, down 9.5% from one year ago. Unsold inventory sits at a 2-month supply at the current sales rate with properties remaining on the market for around 17 days. The median existing-home price for all housing types in February was $382k, which was up 15.2% from one year ago. Continue reading HERE...