Spring selling season starts strong

|By:, SA News Editor

The seasonally adjusted annualized pace of existing homes sales in March of 5.71M was the fastest rate in a decade. Alongside, the median sales price was up 6.8% Y/Y. Available inventory fell 6.6% to 1.83M homes.

At the current pace of sales, it would take 3.8 months to sell all homes on the market. Anything less than 5 months is considered to be a tight market.

Interested parties include: Zillow (Z +0.2%), Realogy (RLGY +1.1%), ReMax (RMAX -0.7%), First American Financial (FAF +0.6%), Stewart Information (STC -0.2%), Investors Title (ITIC +0.6%)