RE\/MAX<\/a> National Housing Report, spring has officially sprung. Notable inventory gains, a surge of new listings and increased activity are setting the stage for the customary peak homebuying season.<\/p>\n\n\n\nHome sales in March increased 21.6 percent over February, trailing behind last year\u2019s activity for the same period by 9.4 percent. At the same time, the national market saw a 21.9 percent surge in new listings.<\/p>\n\n\n\n
These inventory gains have expanded the supply of homes for sale by 24.2 percent year-over-year. <\/p>\n\n\n\n
\u201cAs we move into what is normally the prime homebuying months, the increased inventory should give buyers more options and a better chance at securing a home that fits their needs,\u201d Amy Lessinger, RE\/MAX president said.<\/p>\n\n\n\n
\u201cIt\u2019s still a seller\u2019s market in many parts of the country but having a greater volume of available listings is a good step toward a more balanced market.\u201d<\/p>\n\n\n\n
The national Median Sale Price increased by 1.5 percent in March to $415,000. This is the third month in a row that median prices have increased. On average, March sellers received 99 percent of the listing price.<\/p>\n\n\n\n
Days on the market decreased to 40 days \u2013 on par with March 2023.<\/p>\n\n\n\n
Per RE\/MAX, the hottest markets right now are Bozeman, MT, Burlington, VT, and Minneapolis, MN \u2013 all of which reported 10+ percent year-over-year increases in sales transactions.<\/p>\n\n\n\n
The markets with the biggest decreases in year-over-year sales percentage were Dover, DE (-25.9%), Honolulu, HI (-16.5%), and Miami, FL (-16.3%).<\/p>\n