Existing Home Sales Rebound in March
April 24, 2017 •
The National Association of Realtors® (NAR) has published existing home sales data indicating that March was a particularly good month for home sales, with sales rising 4.4 percent from last month, and 5.9 percent from March 2016, to a seasonally adjusted annual rate of 5.71 million this March. This increase is above February’s 5.47 million rate last month. NAR also noted that March sales were 5.9 percent above a year ago and comprises the strongest month of sales since February 2007’s 5.79 million rate. The increase in the annual home sales rate was strongest in the Northeast and Midwest, and lower in the South and West (note that the South is the largest NAR region, which the Northeast is the smallest portion of the NAR’s reported data).
Sales of existing homes, along with constrution put in place, is one of the major figures that comprise the ACA architectural coatings forecast, which recently forecast rising architectural coatings in 2017. Rising existing home sales are strongly associated with rising demand for architectural coatings.
Contact ACA’s Allen Irish for more information.