Home Sold Faster in March

According to the National Association of Realtors’ Confidence Index, home sold fast in March, 2014 – with a median of fifty-five days – due primarily to a low inventory of homes for sale. Over one third of realtors said that properties on the market in march sold in less than a month. While buyer traffic increased over February it was less than March 2013. Confidence for the next six months remains strong although there is concern about low inventories and tight credit. The NAR expects prices to increase by an average of four percent over the next year.