MHProNews has learned while many indicators continue to show improvement in the housing market, sales of existing homes nudged down 0.6 percent in March from Feb. to an annualized rate of 492,000, but rose 10.3 percent from last Feb. CNNMoney reports average time homes were on the market fell from 91 days a year ago to two months; and sales of distressed properties dropped to 21 percent of the market from 25 percent in Feb., and 29 percent one year ago. Meanwhile, the National Association of Realtors (NAR) reports the median sale price of a home in March rose six percent over Feb. and 11 percent from a year ago to $184,300. According to NAR’s President, Gary Thomas, “Multiple bidding is becoming more common, and more homes are selling above the asking price.”

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