Re-Sale Residential Activity Increases in March

Sales of existing homes and condominiums rose by 1% in March to the third-highest sales pace on record as low mortgage rates continued energize the residential real estate market. The National Association of Realtors said that existing home sales advanced nationally to a seasonally adjusted annual rate of 6.89 million units last month, up from a revised February sales pace of 6.82 million units. Sales advanced in all parts of the country except the Northeast, and the gains pushed the median price of an existing home to $195,000, up 11.4% from a year ago. That marked the biggest one-year percentage increase in the median sales price in more than two decades. Las Vegas real estate continues to make an impressive showing in 2005. Resale Las Vegas homes carried a median asking price of $251,000 in January of this year….and here it is, the end of April, and we’re approaching $265,000. Call MS Las Vegas Real Estate to get in on the action at 888-349-2595.

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