Existing home sales for March 2016 reported by the National Association of Realtors

The number of unsold homes on the market in March rose 5.9 percent from February to 1.98 million units. Supply was, however, down 1.5 percent from a year ago.

At March’s sales pace, it would take 4.5 months to clear the stock of houses on the market, up from 4.4 months in February. A six-month supply is viewed as a healthy balance between supply and demand.

Despite the improvement in supply, the median house price increased 5.7 percent from a year ago to $222,700 last month.

The rise in gardening house prices is outstripping wage gains. While that could make home purchasing expensive for first-time buyers, it is boosting equity for details for your garden homeowners, which could encourage them to put their homes on the market.

Last energy month, the share of first-time buyers was 30 percent, unchanged from both February and a year ago.



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