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发帖数: 5093 | 1 Existing-home sales hit a 10-year high in March as homes fly off the market
Published: Apr 21, 2017 10:00 a.m. ET
Sales of previously-owned homes churned higher in March as sturdy demand for
housing bolsters the market.
Existing-home sales ran at a seasonally adjusted annual rate of 5.71 million
, a 4.4% monthly increase, the National Association of Realtors said Friday.
That was the strongest selling pace since February 2007 and was 5.9% higher
than a year ago.
Economists surveyed by MarketWatch had forecast a 5.63 million rate.
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Tight inventory is still the biggest factor in the marketplace: supply was 6
.6% lower compared to a year ago. There were 1.83 million homes for sale on
the last day of the month, which represented 3.8 months of supply at March’
s sales pace. Properties stayed on the market for only 34 days.
That nudged the national median sales price to $236,400 - a 6.8% gain
compared to a year ago.
Regionally, sales surged 10.1% in the Northeast and 9.2% in the Midwest, and
ticked up 3.4% in the South. In the West, sales fell by 1.6%.
Investors made up 15% of all purchases, little changed from a year ago.
First-time home buyers also made little progress, accounting for 32% of the
market.
NAR Chief Economist Lawrence Yun called the first quarter “a good beginning
” to 2017 despite the ongoing headwinds of inventory and higher prices.
Sales for the first three months of the year were 5% higher than in 2016.
Policy matters, not the strength of the economy, may dominate the second
half of the year, Yun suggested. With only a year to go before Fannie Mae
and Freddie Mac run out of capital, many analysts are hoping Congress will
address comprehensive housing finance reform. |
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