Morning Minute: Taking a closer look at March home sales

Image: Bigstock

Image: Bigstock

March Illinois home sales rose 1.9 percent annually and existing-home sales rose nationally for the month as well. Strong gains in the Midwest and Northeast regions of the country helped drive overall home sales up 5.1 percent compared to February and were up 1.5 percent compared to March 2015, according to the National Association of REALTORS® (NAR).

In the blog post, “Inside the Release: Dissecting Where Sales Were the Strongest in March,” NAR researchers take a closer look at the March housing data released Wednesday. A few takeaways: sales activity was strongest in the mid-priced property range and affordability and the low availability of starter homes may be hindering first-time buyers from getting in the market.

In other headlines:

Chicago-area home prices continue to rise – Chicago Tribune

Is TRID hysteria over? Time to close drops to 12-month low – HousingWire

Existing-Home Sales Kick Off Strong Spring – NAR Daily Real Estate News

6 massive pricing mistakes home sellers need to evade – Inman


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