Strong Demand Increases Home Sales and Prices in First Quarter
As the first quarter of 2024 ends, both existing home sales and median prices rose by solid margins compared to a year earlier. This reflects robust demand conditions even as supply remains tight.
March existing home sales rose 3.2% compared to March 2023, and the median price rose 10.1% to $299,900 over that same 12-month period.
On a year-to-date basis, existing home sales increased 5.6% in the first quarter relative to Q1 2023, and the median price rose 6.7% to $280,000 over that same period.
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