The spring housing market blasted in across the county last
month and existing home sales jumped 6.1 percent from the February level to the
highest annual rate in 18 months. The
National Association of Realtors®
(NAR) said March sales were at a seasonally adjusted annual rate of 5.19
million units compared to 4.89 million in February. The rate of sales tied those in September
2013, which had been the most recent high in sales. The March increase was the largest month-over-month
gain since a +6.2 percent change in December 2010.
The pace of sales of existing single-family homes,
townhomes, condominiums, and co-ops in March was 10.4 percent higher than in
March 2014 and represented the sixth consecutive month of annual
increases. It was also the largest
year-over-year increase since August 2013’s 10.7 percent rise.