The National Association of Realtors® reported that March’s existing-home sales took a significant drop of 8.5%, bringing the annual rate to 5.27 million. But despite this decrease due to the Coronavirus pandemic, sales are still up 0.8% from March 2019’s rate of 5.23 million, making it the ninth consecutive month for year-over-year increases.
Although the existing-home sales have decreased significantly for March, the median existing-home price is up 8.0% to $280,000 from March 2019 median price of $259,700. The National Association of Realtors® states that “March’s national price increase marks 97 straight months of year-over-year gains.
For more information on Existing-Home Sales for March 2020: Read the Original Article Here: Home Sales Increase year-Over-Year Despite Expected Monthly March Decline Due to Impact of COVID=19
Copyright ©2020 “Home sales increase year-over-year despite expected monthly march decline due to impact of COVID-19” NATIONAL ASSOCIATION OF REALTORS®. All rights reserved. Reprinted with permission. April 28, 2020, https://www.nar.realtor/newsroom/home-sales-increase-year-over-year-despite-expected-monthly-march-sales-decline-due-to-impact-of