March existing home sales down, but not for long

march-in-like-a-lamb_coloring_page_png_468x609_q85By Marian McPherson | inman

First American Financial Corporation just released its March 2016 Potential Home Sales model. According to First American’s press release, the model provides a gauge on whether existing-home sales are under or over their long-run potential level based on current market fundamentals.

For March, existing-home sales are underperforming by 11.5 percent, which translates into approximately 664,000 seasonally adjusted, annualized rate (SAAR) sales.


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