The Weather an Impact?

Realtors love to come up with excuses on why the market is slow. Can the weather have an impact on housing sales? It can impact moods, schedules, access, and of course how well a home shows. With the wacky weather we had this past winter, its not a stretch to think it made a difference...

Bad weather in February led to slow sales of existing homes nationwide in March, according to a new report by the National Association of Realtors (NAR).

Western states, including Colorado, were particularly hard hit.

But metro Denver fared much better than the West as a whole, based on preliminary data, according to NAR spokesman Walt Molony. "It wasn't down as much," he said.
Data on recent Colorado existing-home sales will be released on May 15, according to NAR.
The West reported the largest drop, by region, in the number of home sales from March of last year -- 16.7 percent to 1.2 million. Sales of houses in the region decreased 9.1 percent from February of this year.

Homes sales are seasonally adjusted to factor out variations in resale activity, including family buying patterns, according to NAR. But seasonal factors don't compensate for bad weather.
The West also saw the biggest decrease in median sales prices of existing homes, at 2.9 percent to $330,600. The Western median sales price was the highest among the regions last month, with the next-highest median being $268,600 in the Northeast.

Sales prices are not seasonally adjusted.

All regions of the country saw declines in the number of home sales in March, according to NAR.
Sales of existing homes -- including single-family houses, townhomes and condominiums -- dropped 11.3 percent to 6.12 million last month from the same month in 2006. March sales decreased 8.4 percent from February of this year.

The Northeast saw the least decline in sales at 5.1 percent.

Median sales price decreased 0.3 percent to $217,000 from March 2006. Only one region of the country -- the South -- saw an increase in median sales price, up 0.4 percent to $180,700.
Based in Washington, D.C., NAR is one of this country's largest trade groups. It represents more than 1.3 million members involved in residential and commercial real estate.

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