Real Estate Resales Headed Up Again

Real Estate Resales Headed Up Again

March numbers for single-family home resales show that the annual-rate of sales is on the rise again. There were 2,892 single-family units sold over the previous twelve months.

As the chart below indicates, resales crossed the 2,800 unit threshold last July and has held steady since that time, however resales are on the rise again.

The growth was driven by the 297 single-family resales reported in March. That is a 14% increase over the 260 homes sold during March of last year.

As we have previously reported, there have been double digit percentage increases in transactions over the last three years.

March information also shows positive growth in prices. Previously, prices had been trending downward. That changed in March.

The chart below shows the average sales price of single-family homes sold over the last 12-months have held steady for the last two months. This was preceded by a downward trend which began in August of 2015.

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