March 2019 homes sale report

March 2019 homes sale report is in and the trend is up.

344,000 homes hit the market across the country in March.

Homes for sale increased in the month of March since February 2019 according to U.S. Census and HUD (Housing and Urban Development.) The percentage is up 3% since March 2018 and it is expected to increase. What is driving more Sellers to place their property on the market? Chief economist of Realtor.com, Danielle Hale believes that mortgage rates are an enticement for people to buy now. She continued to state that builders also have a growing list of orders which is increasing builder’s confidence.

Source: US Census Bureau 

Although inventory has gone up, at the same time, existing homes sales have decreased from February 2019 to March in the amount of -4.9%. The median existing homes price nationwide is approximately $259,000. In South Florida, the median price for existing homes is approximately $350,000. In Broward County, closed sales for SFH are up 1.3% from year–to-year (1,355 SFH.) In Miami-Dade, closed sales of SFH is down -1.9% (1,083 SFH.) Palm Beach County is significantly down from year-to-year at -8.9%.