Prices up and sales down in March as number of homes for sale goes down again

While buyer activity remained strong strong in March, a shortage of homes for sale has pushed closed sales down for the 2nd straight month after 19 straight months of increases. Median sales prices continued to go up for the sixth straight month as demand has outpaced supply. (see graphs below – click on them to enlarge).

Direct link to podcast.

Link to March 2013 Housing Release (including data sheets)

Highlights from the release:

  • Single-family home sales were down 3/3% compared to last year (2nd straight month)
  • Single-family median prices were UP 7.8% ($290,000) (6th straight month)
  • Single-family inventory had biggest year-over-year drop in March (-29.8%) (down for 12th straight month)
  • Condo sales were up 2.5% compared to the same time last year
  • The median price for a condo was up 8.0% ($270,000) compared to last year

March 2013 SF chart



March 2013 CC chart