Existing Home Sales Rise

04/22/10: Existing Home Sales for the month of March showed an increase of 6.8% over the same period for the previous year. On an annualized basis this represents a sales level of 5.35 million units, an increase of 16.1% over 2009 levels. Inventories increased 1.5% and are currently running at an 8 month supply level.The Median price for homes sold was $170,700, an increase of 0.4% year over year.

The First Time Buyer accounted for 44% of all transactions. 19% of all transactions were by Investors with a further 27% being a Cash purchase. 35% of all slaes were classified as Distressed.

Finally, 75% of all transactions were below the $250,000 level which shows price and the first time buyer are the driving  force behind the current numbers.

Ken Dooley

Request an Inventory Report from select Chicago Zip Codes.