The latest report from Redfin attests to one of the most competitive housing markets on record: as housing prices rise at the fastest rate in years, prospective buyers have become less likely to invest in real estate, resulting in a diminishing rate of home sales in the past month.
According to Redfin’s data, seasonally-adjusted home sales fell by 4 percent in March alone while median home-sales prices rose by 6.2 percent over the same period. This latter figure marks the highest March increase in home prices since 2013.
Also in March, the year-over-year rise in home prices reached 17.3 percent, with a median sale price of $412,700.
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