Nationally, the volume of existing home sales in March 2014 was 7.5% below the pace of sales in March 2013, according to today’s report from the National Association of Realtors.® The pace of sales was the slowest since July 2012, as buyers resisted price increases caused by inventory shortages and higher interest rates. Price increases moderated in the month, according to the national real estate report, and interest rates were lower last week, so we are not likely to see the March results accelerate into really bad news for the housing market in the months ahead. Indeed, economists surveyed in advance of the release of the data had expected worse results: Sales of existing homes slowest since July 2012 – Economic Report – MarketWatch.
For the March Flagstaff home sales report, click that link to my report from last week.
To buy or sell a Flagstaff home, start with Flagstaff’s best real estate agents: Here is our Flagstaff real estate website.