On April 25, 2012 National Association of Realtors® (NAR) reported that nationwide existing home sales in March of 2012 were down 2.6% from February 2012, but 5.2% higher than March of 2011.

Investors bought 21% of the inventory in March 2012, lower than 23% in February of 2012, and 22% of March of 2011. First time buyers acquired 33% of homes in March of 2012, lower than 32% February of 2012, but same as 33% in March of 2011. Cash buyers purchased 32% of all sales in March of 2012 higher from 32% in February 2012; but same as 33% in February 2011. Investors make up the bulk of cash transactions.

Total available housing inventory dropped 1.3% at the end of March to 2.37 million, a 6.3 month supply of inventory, same as in February of 2012. Home sales, in the Northeast were down 1.7%, in the Midwest were same as February 2012, in the South declined 1.1%, and in the West were down 7.4% in March of 2012, according to Walter Molony of www.realtors.org on April, 2012.

It appears that many home buyers were not motivated enough to take advantage of low interest rates and lower priced distressed properties to buy real estate in March of 2012. However, there is a sign of improvement compare to same time of a year ago.

For more complete information, on the March of 2012 existing home sales, please
CLICK HERE

 
Posted by JOHN PUSA 01044712 on 04/30/2012 05:09 PM   Comments (6)   Home Sales Report March of 2012 in the ActiveRain Channel  
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6 Comments on Home Sales Report March Of 2012

APR
30
2012

In Spokane inventory is down, but sales (volume) is up. Supply and demand says prices should start coming up.
5:18pm • #1
MAY
03
2012
989,508 Points 49 Featured Posts Outside Blog Called Shot Master

John - Our home sales are up from last month, I'll have to check how it compares to a year ago.
6:53pm • #2
MAY
04
2012
628,715 Points 1 Featured Post Outside Blog

John-very good "big picture" report. Hopefully with inventories coming down it will help with the motivated stepping up and perhaps we will see prices start to rise? Have a great week-end,
8:34am • #3
874,312 Points Outside Blog Called Shot Master

Todd, if the inventory is down in Spokane that mean real estate market improving. Thanks for the comment.

Michelle, it is good sales are up from last month. Thanks for the comment.

Adrian, yes, hopefully lower inventories will increase the prices. Thanks for the comment.
5:42pm • #4
MAY
06
2012
928,362 Points 13 Featured Posts Called Shot Master

John,

We cheer all signs of improvement, big and small.  Wishing you continued success.  A
11:36am • #5
MAY
08
2012
523,274 Points 10 Featured Posts Outside Blog Called Shot Master

We'll take any improvement.  And, some markets are still really hot right now.  Best, John.
5:05pm • #6


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