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A Mixed Bag for March Sales Results

The March homes sales report from the Lehigh Valley Association of Realtors contains some not so good news for local home sellers. Sales in March were up 54% from February, but this is a typical seasonal increase for this time of year. Compared to sales for last March we saw a decrease of 8.6% from year to year. The average sale price for March was down almost 10% from February and 9.4% from last March. So where’s the good news? It’s not in these numbers, but in the interest rates, unemployment reports and consumer confidence surveys. As people stop fearing that they’re the next to lose their job they’ll feel better about committing to a home purchase. And as long as interest rates stay low they’ll be able to afford the home they want. If you’re currently trying to sell a home or thinking about it, those are the number to really watch.