On April 20, 2022, National Association of Realtors® (NAR) reported that nationwide median home value price was $375,300 in March of 2022 rose 15.0% from the price of $326,300 in March of 2021.
Single family home sales were at annual rate of 5.13 million units in March of 2021 declined 2.7% from the annual rate of 5.27 million home sales in February of 2022, and lower 3.8% from home sales in March of 2021. The median single family home price was $334,500 in March of 2021, increased 18.4% from March of 2021.
Condominium and co-op sales decreased 3.0% to an annual rate of 640,000 units in March of 2022 from February of 2022, and fell 9.9% from March of 2021. Median existing condo price was $322,000 in March of 2022, higher 11.9% from March of 2021.
Distressed homes sales were 1.0% in March of 2022 same as from 1.0% in February of 2022, and unchanged from 1.0% in March of 2021.
"The housing market is starting to feel the impact of sharply rising mortgage rates and higher inflation taking a hit on purchasing power," said Lawrence Yun, NAR's chief economist. "Still, homes are selling rapidly, and home price gains remain in the double-digits."
For more complete information, on NAR's March 2022 home sales stats, please click HERE
Comments (12)Subscribe to CommentsComment