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Here is a very interesting article I read in the CRS (Certified Residential Specialists) Connect report that may help you in selling or buying!

By Regina Ludes, Thursday, 21 March 2013 - 12:03pm

Existing-home sales and prices continue to perform above year-ago levels, according to the latest data by the NATIONAL ASSOCIATION OF REALTORS®. Existing-home sales rose 0.8 percent to an annual rate of 4.98 million in February from 4.94 million in January, and they were 10.2 percent higher than the 4.52 million units sold in February 2012. The national median existing-home price was $173,600 in February, up 11.6 percent from a year ago. This marks the 12th consecutive month of year-over-year price increases.

Total housing inventory rose 9.6 percent to 1.94 million existing homes available for sale, representing a 4.7-months supply at the current sales rate, up from 4.3 months in January. Listed inventory is 19.2 percent lower than a year ago when there was a 6.4-months supply. Homes were on the market a median of 74 days in February, down from 97 days in February 2012.

Foreclosures accounted for 15 percent of all February home sales and sold for an average discount of 18 percent while short sales made up 10 percent of all home sales and were discounted 15 percent.

Regionally, existing-home sales in the Northeast fell 3.1 percent to an annual rate of 630,000 in February but were 8.6 percent above February 2012. The median sales price of an existing home in the Northeast was $238,800, up 7.6 percent from a year ago.

Existing-home sales in the Midwest slipped 1.7 percent in February to 1.14 million but were 12.9 percent higher than a year ago. The median sales price of an existing home in the Midwest was $129,900, up 7.7 percent from February 2012.

In the South, existing-home sales increased 2.6 percent to an annual rate of 2.01 million in February and were 14.9 percent higher than a year ago. The median sales price of an existing home in the South was $150,500, up 9.3 percent from February 2012.

Existing-home sales in the West rose 2.6 percent to an annual pace of 1.20 million in February and they were 1.7 percent above a year ago. Low inventory and multiple bids pushed up the median price of existing homes in the West to $237,700, which is 22.7 percent above February 2012.

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