Home Sales Down, Housing Market Remains Strong

Home sales activity in March was well below February numbers according to a report released earlier this week. Sales of existing homes dropped nearly 5% between February and March and are 5.4% lower than a year earlier. Analysts, however, still feel positive about the remainder of the spring housing market. February was an unexpectedly strong month for home sales, and it's not unusual for sales to drop back to more normal levels following busy periods. In addition, home mortgage interest rates remain low, and applications for mortgages to purchase new homes recently hit multi-year highs.

Purchasing a new home? Need to refinance? Contact Peachtree Mortgage Services, Inc. at 770.481.0052 or peachmtg@bellsouth.net. We serve the Atlanta region and the entire state of Georgia.


* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.