Existing Home Sales Continue Annual Drop

Existing home sales saw a better than forecast 1.1% month over month increase in March, mostly driven by the Northeast and Midwest after the weather-related slowdown in February in those areas. In our home market, existing-home sales in the West declined 3.1 percent to an annual rate of 1.23 million in March, but are still 0.8 percent above a year ago. The median price in the West was $377,100, up 7.9 percent from March 2017. Another positive for affordably was housing inventory rising 5.7%. However, home prices keep rising at a faster pace than inventory. This is what Larry Yun… Read moreExisting Home Sales Continue Annual Drop