RealtyTrac: Median Sales Price Of U.S. Residential Properties Rise In March

(RTTNews) - RealtyTrac, a leading source for comprehensive housing data, Thursday said U.S. residential properties, including single family homes, condominiums and townhomes, sold at an estimated annual pace of 5,253,464 in March, an increase of 0.4 percent from February and up 8 percent from a year ago.

The company released its March and first-quarter Residential & Foreclosure Sales Report today.

The median sales price of U.S. residential properties -- including both distressed and non-distressed sales -- was $164,500 in March, up 1 percent from February and up 10 percent from last year.

March was the 24th consecutive month where U.S. median home prices increased on an annual basis. The 10 percent annual increase was the biggest annual percentage increase in that 24-month span.

Daren Blomquist, vice president at RealtyTrac, said, ''The housing market showed signs of coming out of hibernation in March after a sluggish fall and winter. Median home prices increased on a monthly basis following six consecutive months where they were flat or declining, and increased on an annual basis by the biggest percentage since hitting bottom in March 2012.''

In March, 34 percent of all U.S. residential property sales were to buyers with a different mailing address than the property address, most likely investors or second home buyers.