Jinxin Real Estate News: Home resumption sales continued to rise by 22% in March

Jinxin Real Estate News: Recommendation home sales continued to rise by 22% in March The Province Times Home sales rose 22.3% in March, with many buyers purchasing high...

Alberta Times Home sales rose 22.3 per cent in March, with many buyers snapping up homes during the peak buying season. The price hike is one of many indicators that the Valley's sluggish housing market is recovering in recent months. No one wants to miss out on historically low prices for families who have been on a buying spree this spring, said Chris ARMLS communications director.

"Because housing is so incredibly affordable, people are just buying houses like crazy," she said. ARMLS March numbers show improvement across the board. The inventory of homes for sale continued to decline, falling 7.9% to 21,863 homes. March numbers are similar to 2003 and 2004, which Chris calls the last normal market with more than 56,000 homes listed in November 2009. “We started seeing complaints from our agents that there wasn’t enough inventory,” Chris Ren said. This was especially true for homes selling for less than $100,000. Those cheaper homes have dominated the market lately, but supply is running out. Tight supply, high value homeowners in June 2006. Prices plummeted 59.1% and at the bottom in May 2011 the house was worth $108,300. Since then prices have grown 19.9% ​​to be worth $129,900 in March. "It's slow, it's stable," Chris Yam said. "I know, we always want it to rebound, but it's probably better for it to be healthy and for us to go slow than for us to go crazy." Chris Yam predicts that the worst of the bankruptcy crisis has passed and economic renewal is slowing. A more normal market would require higher employment opportunities and more people moving to Arizona. Chris Yam said relocation can only improve housing prices in other markets, making it more affordable for homeowners to move here.

From other ARMLS results: The median home price in April will be $133,000. ?#27861;After a slight increase, house auction prices continued to decline for more than a year. House bankruptcies in March have remained at about 18,000 units, down from 50,568 units in November 2009. A normal market would have about 5,000 foreclosures per month, Chris Yam said. The percentage loss as a whole fell 4.6%. For the first time, this number has dropped below 50%, with ARMLS tracking this metric. The loss rate reached 74.1% in September 2010.