Great National Housing Data

· New single-family home sales soared 20.7% in March to a 1.021 million annual rate. Sales which are reported when contracts are signed are up 66.8% from a year ago.
· The months' supply of new homes fell to 3.6 in March from 4.4 in February.
The median price of new homes sold was $330,800 in March, up 0.8% from a year ago. The average price of new homes sold was $397,800, up 6.0% versus last year.
· Existing home sales in March according to NAR dropped 3.7% in March from February; but sales are up 12.3% from last March. The median sold price was $329k, up 17.2% over the last year.
· According to Redfin sales of luxury homes, those priced over $975k, have increased by an amazing 41.6% over the last 12 months across the country. Whereas sales of affordable homes have only increased by 7%. This is causing large increases in reported sales prices, both average and median.