What Sales Slump?
Courtesy of Reuters
U.S. home resales rose more than expected in March to the highest level in more than a decade, The National Association of Realtors (NAR) announced on Friday. Miami home sales remain strong.
Existing home sales climbed 4.4 percent for the month, while economists were expecting a smaller increase of 2.5 percent, according to Thomson Reuters consensus estimates.
While the number of homes on the market rose 5.8 percent to 1.83 million units last month, housing inventory was down 6.6 percent from one year ago, implying that demand is outweighing supply.
Properties typically remained on the market for 34 days in March, compared to 45 days in February, the NAR added.
“The early returns so far this spring buying season look very promising as a rising number of households dipped their toes into the market and were successfully able to close on a home last month,” Lawrence Yun, a chief economist for the industry group, said in a statement. “Sales will go up as long as inventory does.”
U.S. home resales fell more than expected in February amid a shortage of houses on the market, which pushed prices up and sidelined potential buyers.
The NAR’s existing home sales data measures sales and prices of existing single-family homes for the nation overall. These figures also include condos and co-ops.
Why Work with Mario Quintero
I help people reach their goals. Whether you want to buy for the first time, refinance your existing loan, purchase an investment property, or sell your home, TODAY is your moment. Have a look at your options with the help of Mario Quintero of STC Loans. Mario has been in the Miami real estate and mortgage business since 2002. His experience is tested and true. Mario has helped thousands of clients reach their home ownership goals,
Mario Quintero, principal of Strock and Tanner Mortgage, gets your deal done. Let me be both your trusted Miami realtor and Miami mortgage broker.
Get in Touch with Mario
I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.
Call me today at 305-598-1600 or contact me here.