The National Association of REALTORSÂ® released its Existing Home Sales report for March on Monday.Sales dipped from Februaryâs seasonally adjusted annual rate of 4.95 million to 4.92 million existing homes sold in March, a decrease of 0.6 percent month-to-month.
The annual rate at which contracts for a home purchase were drawn increased 6.9 percent from one year ago.
Home sales dropped last month, but not because demand was lacking. There are fewer homes for sale than at any time in the last 11 years.
According the National Association of REALTORS® (NAR), the Pending Home Sales Index rose 5.2 percent in October, crossing the benchmark 100 reading, and moving to 104.8.
After a small decline in September, Existing Home Sales rebounded in October, increasing a modest 2.1%.
The National Association of REALTORS® reports Existing Home Sales at 4.75 million units in September 2012 on a seasonally-adjusted, annualized basis, an 11 percent increase from one year ago.
According to the National Association of REALTORS®, 4.82 million "existing homes" sold on a seasonally-adjusted, annualized basis in August, representing a near 8 percent improvement from the month prior and a nine percent jump from August 2011.
In July, the third time this year, the Pending Home Sales Index crossed its benchmark value of 100, moving to 101.7.
All 20 Case-Shiller Index markets improved between April and May 2012.
The Pending Home Sales Index is on a 14-month winning streak.