Hot Markets Cool While Others Heat Up
According to a recent report released by the NAR, sales have dropped 22.2% year-over-year in Arizona, 19.2% in California, 18.2% in the District of Columbia, 15.7% in Florida and 15% in Nevada. Nationally, sales of existing homes fell 2.1% year-over-year in the first quarter. Sales in 26 states were above the levels of a year earlier. Overall, sales fell in 21 states and the District of Columbia.
The new hot markets? New Mexico, Louisiana, Montana and Mississippi are hot, with sales up more than 15% in each of those states.