RE/MAXX NATIONAL HOUSING REPORT

[James Wise]

ENJOY

n the 53 metro areas surveyed for the March RE/MAX National Housing Report‚ the average number of home sales increased 9.9% over sales in March 2014 and were 33.9% higher than February sales. The increase from February also marks the third largest increase from February to March. Every metro experienced double-digit month-over-month sales increases except Baltimore‚ which saw an 8.4% monthly increase. In March‚ 43 of the 53 metro areas surveyed reported higher sales on a year-over-year basis‚ and 31 of those saw increases in double-digits. TOP SALES INCREASES Richmond, VA +33.9% Billings, MT +25.3% Orlando, FL +24.7% Portland, OR +23.4% Tampa, FL +22.7% Trenton, NJ +22.6% MEDIAN SALES PRICE TOP PRICE INCREASES Detroit, MI +19.2% Fargo, ND 19.0% Denver, CO +17.8% Chicago, IL +16.6% Manchester, NH +15.0% Minneapolis, MN +14.8% For all homes sold in March, the Median Sales Price was $204‚000. This is 9.7% higher than the median price in February‚ and 8.5% above the median price in March 2014. On a year-over-year basis‚ the Median Sales Price has now risen for 38 consecutive months. Continuing price appreciation is the result of pressure from a constrained inventory‚ which has been an average of 10% lower than the same time last year over the last five months. Among the 53 metro areas surveyed‚ 48 reported higher sales prices than one year ago, with 18 rising by double-digit percentages. Year-Over-Year