The National Association of Realtors issued a press release this morning that was headlined, “Existing Home Sales Decline in March but Inventory Dow, Prices Stabilizing”.
The headline unfortunately sounds negative, but does not really tell the whole story.
Listing Inventory is 21.8% less than last March.
In the Midwest, existing single family home sales are up 15.9% compared to March 2011 and the median home price for existing single family homes rose by 5.2%.
As we all know, all real estate is local.
The NAR press release is very positive for our area, but you have to look past the headlines.
I wanted you to have some details regarding this press release and encourage you to read the entire release at the NAR website.
Our market is rapidly improving. Be sure to keep your friends and clients informed.
President & CEO
Prudential Select Properties
314 583 4377