Market Update: Existing home sales dip in March

  • April 22, 2013

This morning’s existing home sales report showed a 0.6% drop in March home sales from the month prior. Quicken Loans Chief Economist Bob Walters offers the following comments on the report:

“Today, April’s showers doused the hot housing market. This was not entirely unexpected, as housing inventories are lagging far behind demand. While this scenario is good for home values, it also has a detrimental effect on sales as consumers need choices when shopping for a home.”

 

If you would like to talk to Bob in greater detail, please contact us.

 

Print Friendly, PDF & Email