Have you been wondering how the housing market did in March 2015? If so, continue reading! The information was just released and offers some promising information for both home buyers and sellers, as well as our Raleigh real estate agent!
Our Raleigh real estate agent has been bringing you news of the ever fluctuating housing market for a while now. When we last reported, things were beginning to look up after a long, brutal winter. Excitingly, the first quarter of 2015 rounded out with a huge increase in home sales all across the U.S.
With this being a sign of great things to come this summer, our Raleigh real estate agent is hopeful that things will continue to do well!
Sales of existing home sales increased 6.1 percent in March to a seasonally adjusted annual rate of 5.19 million, according to the National Association of Realtors. In addition, they also state that “the gains were solid enough to suggest that housing might be returning to stable footing after enduring a boom, a bust and a stubbornly tepid recovery over the past dozen years.”
As it seems, moving toward a more historically “normal” market is in the cards. It’s hopeful that the gains can be sustained throughout summer and into next winter. Below, you'll find more information about March's housing market. According to usnews.com:
- The median U.S. home price rose 7.8 percent over the past 12 months to $212,100.
- The March sales rate topped 5 million for the first time this year.
- Sales should improve from the 4.94 million they hit in 2014.
- Home-buying improved in all four geographic regions in March.
- The largest gains came from the Northeast and Midwest.
- First-time buyers accounted for 30 percent of March purchases, up from 29 percent in February.
For more information concerning the current state of the housing market and pending sales for March 2015, visit back with us in our next blog post.
Raleigh Real Estate Agent
If you’re considering buying a home this summer, contact our Raleigh real estate agent at Roark Premier Team, today! It's time to get started with the process of searching for your dream home! We will work with you, until you find your next home! So what are you waiting for? Call now! At Roark Premier Team we have real estate agents standing by to help you find the home of your dreams during one of the busiest times of the year for real estate!