17M Americans Plan to Buy a Home This Year
NEW YORK (TheStreet) -- If you're itching to sell your home this spring, there's some good news in this week's housing market numbers.
The median home sale price rose 11.6% in February on a year-to-year basis, now standing at $180,000, says RE/MAX in its March housing report covering mortgage data in 52 key nationwide markets.
Actual home sales were down 8.8% over the same period, but there's a good reason: The weather was much worse than in February 2013.
Couple that with lower "for sale" home inventories (winter had something to do with that too) and the dip in sales volume doesn't look as bad as at first glance.Spending & Saving Tracker, says 17 million Americans plan to buy a new home, condo or co-op this year, up 1 million from last year. And historically, the more buyers in the housing market, the faster those for-sale homes go off the market, and at higher prices. American Express reports 65% of home sellers saying they are "confident" they'll get the asking price for their homes.
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