“Warm weather doesn’t always bring good news. An unusually toasty winter may have poached sales of previously owned homes from March, denying it the expected springtime boost.
Consumers bought 2.6% fewer existing homes – pushing the seasonally adjusted annual rate down to 4.48 million from February’s 4.6 million, according to the National Assn. of Realtors.
In the West, sales were down 7.4% from February and 0.9% from last March. The median price, now $198,300, is 1.6% higher than that of a year ago.
There were still signs of health: A third of the buyers were first-timers. Fewer of the properties were deeply discounted foreclosures – 29% of the total compared with 34% in February. The median price for previously owned homes was $163,800 – up 2.5% from that of a year earlier.” – Tiffany Hsu | LA Times