U.S. Existing Home Sales Drop Beyond Expectations

The National Association of Realtors reported today that the average price of a single-family home, nationally, in March was $217,500 with resale home sales falling below expectations in March and a downward revision to February's increase.

Resale home sales fell 3.0% in March against an expectation of a 1.5% decline, and following a downwardly revised 4.9% gain in February.  Sales of single-family homes dropped 2.8% following a 4.2% increase for February, while sales of condos and other multiple-family units fell 4.1% against an 11.4% increase the month prior.

Home sales in The Victorville CA real estate market continued to show improvement in the face of national statistics with approximately a 10.5% increase in sales over February.  The medium sales price continues to drop from $120,000 in February to $116,000 in March, approximately 3.4%.  This level of pricing has made the Victorville real estate market one of the most affordable real estate markets in California.

For more details see our Market Condition Report

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