The housing market has posed some uncertainty for both buyers and sellers this year. Reports just in from March show that home sales are performing much better than predicted. Single-family sales in March increased by nearly 10%, according to Mortgage Professional America.
Analysts predicted around 630,000 new sales for last month, but the results show that sales almost reached 685,000.
This could be attributed to either the mild decline in interest rates or the fact that the spring season tends to pick up in real estate.
Prices are still high but are not increasing at the rate they have been; many markets around the U.S. are even slowing slight price decreases.
This news is encouraging for real estate investors that have been waiting for the market to stabilize.
