Buyers in the MRIS region were even more active in March than in February, with a whopping 45.5 percent year-over-year increase in pending sales to bring the figure to 14,361 for this month.
Home prices are stabilizing. The March median sales price of $250,000 was only a 1.2 percent decline from last March. Percent of Original List Price Received also provides reason for cautious optimism as transactions slowly creep back toward the seller’s favor. The 94.1 mark for March has consistently been inching upwards in 2010.
Low mortgage rates and the final days of the tax credit continue to create a favorable buying environment and affordability continues to soar. This may change; but we’re on top of it.
