The REAL Trends Housing Market Report for March 2015 shows that housing sales increased 15.9 percent from the same month a year ago. All four regions reported unit sales had increased from a year ago with the Midwest leading the way with an increase of 18.4 percent.
The annual rate of new and existing home sales for March 2015 was 5.972 million units up from a rate of 5.151 million in March 2014.
Housing prices rose an average of 4.9 percent from March 2014, continuing the moderate price increases of the past twelve month period.
The Re/Max housing report also indicated further positive news: March home sales rose a significant 33.9% over sales in February. This marks the third largest single month increase since the RE/MAX National Housing Report began in August 2008. The total number of home sales in March was the largest total of any previous March.
Government data showed a 2.9% increase in building permits and a 2.5% decrease in housing starts.
Which is great - but what does this mean?
In looking at this data, along with the positive indications real estate professionals are seeing across the country, it does appear that more new construction will be coming online during the popular summer season. With prices showing modest increases in most markets, this appears to be an excellent time for both buyers and sellers.
You can find the entire RealTrends report online by clicking here.