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%.