Pending Home Sales Continue to Rise as Winter Slowly Turns to Spring

pendingsales_gradientFBHomebuyers are not slowing down after a particularly active winter, with pending home sales rising over 50 percent from March of last year. Realtors® confidence in the market went up again, as it has every month for the past year. This month’s “Hot Topic” question finds that the majority of Realtors® are seeing busier-than-normal open houses, with 16 percent reporting this is the busiest first quarter they’ve seen.

March Pending Sales:

Single-Family March 2016 March 2015 %Change
Sales 6,431 4,177 54.0%
Median Price $329,900 $320,000 3.1%
  • Pending sales have been up 36 of the last 37 months
Condominium March 2016 March 2015 %Change
Sales 2,401 1,906 26.0%
Median Price $307,500 $307,000 0.2%
  • Pending sales have been up 36 of the last 37 monthsMarchPendingChart
Confidence Index March 2016 March 2015 %Change
Market 72.79 69.18 5.23%
Price 74.45 78.88 -5.62%
  • The RMCI was up for the 12th straight month
  • The RPCI was down for the fourth time in 12 months
  • Measured on a 100-point scale, a score of 50 is the midpoint between a “strong” (100 points) and a “weak” (0 points) market condition

Read the full March 2016 Future Indicators Report release.