FollowAlthough the home sales in the United States had been up for many months and were indicating an improvement in the economy, but for the month of March, the figures have reported a different story all together. The housing market did help in terms of improving the economy of the country and was also conducive in terms of increasing the confidence of the people over the working of the government.
The have reported that homes sales have notched down to about 0.6 % in terms of March, towards the annual rate which had been on a seasonal basis. Moreover, the sales which were seen in terms of the existing homes in the region were seen to be higher by a level of about 10.3 % which is yet another positive sign for the improvement that had been under discussion for quite some time now. The analysts and economists had expected the sales to rise to about $ 5.01 million in terms of the unit rate.
At the same time, some of the most recent snapshots in terms of the outlook of the home sales have shown to be a positive. Bob Walters, another economist at the Quick Loans in the regions of Detroit said in this regard this scenario was indeed quite unexpected as the inventories related to the housing sector are in the state of lagging behind. But for the home values, the condition is quite good and it also has some sort of detrimental effect on the sales as now the choices of the consumers are based on the search of the best deals in town.
More homes have also been expected to go on the market for the sales due to which it can be said that the figures would be much better than the ones that have reported till now. In terms of the nationwide analysis, the median price range that has been seen has risen to $ 184,300 in the month of March. The sales of the homes which are priced higher have also shown a lot of improvement.
