Sedona Homes Online

#1 Sedona Real Estate & Sedona Home Search - Sedona AZ Foreclosure Homes

(928) 451-6098
  • Home
  • Search
    • Featured Homes
    • Personal MLS Portal
  • Local Info
    • Service Providers
    • Utilities List
    • Sedona History
    • Schools
    • Real Estate Taxes
  • Buyers/Sellers
    • Buyers
    • Sellers
    • Why Work With A CRS?
    • Calculators
    • Arizona Buyer Advisory
  • Contact
    • About Troy & Susan
    • Sedona Real Estate Blog
    • Reviews
  • Search
  • What’s it Worth?
  • ContactGet in Touch
    • About Susan & TroyAll About Us
You are here: Home / Housing Analysis / Existing Home Sales Slip In March

Existing Home Sales Slip In March

April 20, 2012 By Troy Deierling Leave a Comment

Existing Home Sales In March, for the second straight month, home resales slipped nationwide.

According to the National Association of REALTORS®, March 2012 Existing Home Sales fell to 4.48 million units on a seasonally-adjusted annualized basis — a 3 percent drop from February.

An “existing home” is a home that’s been previously occupied or owned.

The weaker-than-expected Existing Home Sales data is the third such housing report this month to suggest a lull in the spring housing market. Earlier this week, homebuilder confidence slipped for the first time in three months and March Single-Family Housing Starts fell, too.

The news wasn’t entirely bad for home resales, however. Although total home units sold decreased, so did the number of homes available for sale. There were just 2.37 million homes for sale nationwide in March, a 2 percent drop from the month prior.

At the current pace of sales, therefore, the entire nation’s home resale stock would “sell out” in 6.3 months. This is the second-fastest pace since the housing market’s April 2007 peak.  

A 6-month supply is widely believed to represent a market in balance between buyers and sellers.

The March Existing Home Sales data shows that — despite record-low mortgage rates nationwide — buyer activity in Sedona is slowing, and seller activity may be slowing, too.

So long as the two forces remain in balance, home prices should do the same. This is the law of Supply and Demand at work. 

However, if home sales continue to slide and home inventory builds, buyers may find themselves with an edge in negotiations. 

If you’re planning to buy a home in 2012, the long-term housing trend is still toward recovery. This season may be a good time to look at your options. Talk to your real estate agent to see what’s available. Low mortgage rates may persist, but low home prices may not.

Filed Under: Housing Analysis Tagged With: Existing Home Sales, Existing Home Supply, NAR

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Contact Us

Sedona AZ Real Estate Broker Susan Deierling, ABR, CRS
Assoc. Broker
Realty Executives
Northern Arizona
Sedona AZ
(928) 451-6098 mobile/text/VM
(888) 494-0470 (US & Canada)
susan@sedonaemail.com

Contact Me | About Us

Sedona AZ Homes for sale Troy Deierling ABR CRS
Realty Executives
Northern Arizona
Sedona AZ
(928) 202-0700 mobile/text/VM
troy@sedonaemail.com

Contact Me | About Us

Contact Susan

Sedona AZ Real Estate Broker Susan Deierling, ABR, CRS
Assoc. Broker
RE/MAX Sedona
Sedona AZ
(928) 451-6098 mobile/text/VM
(888) 494-0470 (US & Canada)
susan@sedonaemail.com

Contact Me | About Us

Contact Troy

Sedona AZ Homes for sale Troy Deierling ABR CRS
RE/MAX Sedona
Sedona AZ
(928) 202-0700 mobile/text/VM
troy@sedonaemail.com

Contact Me | About Us
Realtor MLS HUD

Deierling & Deierling PLLC // All Rights Reserved Copyright © 2022 ยท Log in

Sedona home search

Sedona Homes Online Sitemaps | Post | Pages | Video | Category | Author | HTML

The data relating to real estate for sale on this website comes in part from the Sedona Verde Valley Multiple Listing Service (MLS). Listing broker has attempted to offer accurate data but is not guaranteed accurate by the MLS. All information presented is deemed reliable but not guaranteed. IDX is provided exclusively for consumer's personal, non-commercial use; and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use outside of this purpose is prohibited.