Existing home sales in March rose on the national, state and local levels.
Jim Letizia reports.
The National Association of Realtors says existing home sales rose 1.1 percent from February to a seasonally-adjusted annual rate of 5.6 million, suggsting buyers are undeterred by the dwindling inventory. There were 1.67 million U.S. homes on the market in March, a 7.2 percent decline from the same month a year ago. The Ohio Association of Realtors says sales rose by 3.2 percent from February to a seasonally-adjusted annual rate of nearly 154 thousand. And the Columbus Realtors trade association says sales rose by 3.2 percent from February to nearly 35 hundred. This left central Ohio with a 1.3 month inventory supply. Nationally, the median sale price of a home was 250 thousand dollars, up 5.8 percent from March of last year. Statewide, the average home price of nearly 172 thousand is up six thousand dollars from February. And the local average sale price was nearly 220 thousand dollars, up nearly 9 thousand from February.