April 2016 RE/MAX National Housing Report

The 2016 home buying season sprung into spring this March with a 33.4 percent jump in sales from February according to the April 2016 RE/MAX National Housing Report. March sales were 3.6 percent greater than sales this time last year, and so far in 2016, the average year-over-year increase in home sales has been 4.9 percent.

The inventory of homes for sale remains very tight in many markets across the country, with March seeing a level that is 13.3 percent lower than a year ago, the exact same difference seen in February. At the rate of home sales in March, the National Months Supply of inventory was 3.2, down from 3.7 in March 2015. The average loss of inventory on a year-over-year basis in 2015 was 12.2 percent.

“March is marking a strong kick-off for this year’s home-selling season. After a long winter, demand for homes remains high, with large numbers of home buyers coming into the market. Last year was one of the best years in real estate in a long time, and March sales are pushing even higher. Low inventory is still a stubborn issue in many markets, but overall it doesn’t seem to be moving prices significantly higher,” said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder.

 

Click here to download your copy of the April 2016 RE/MAX National Housing Report. Looking to sell your Phoenix home or buy a home in Phoenix? Contact the Regal Team today! We offer unparalleled service to all clients in the Phoenix, Arizona real estate market. Your complete satisfaction with our service and representation is our number one priority!

Melissa Dierks

The Regal Team of RE/MAX Professionals

7111 W Bell Road, Suite 101

Glendale, AZ 85308

(623) 229-0154

www.theregalteam.com

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