Trump bump? Real-Estate boomed in March:
Bottom Line: The stock market's record run since the Presidential election is well known. So is the Federal Reserve's reaction - which has led to two interest rate increases in recent months. That hasn't done anything to impair the progress of the housing market as it only accelerated it's recovery in the first quarter of 2017. Redfin is the the first firm out with March's real-estate activity & here's what they found:
Home listings: -13%
Home Sales: +9%
Price appreciation: +7.5
These are incredibly strong numbers. It's highly unusual to see a near double-digit percentage increase in sales activity at the same as a double-digit decline in inventory, but that's exactly what we saw in March. Naturally with lower inventory but higher sales - price appreciation remained strong year over year with a 7.5% increase. Whether the sale jump in March had anything to do with other economic indicators that have been part of the "Trump bump" or not, we ended March with the most impressive real-estate activity since prior to the election.