March 2023 Monthly Indicators:

• Existing home sales increased 14.5% month-over-month, the largest gain since July 2020, due to contracts signed at the beginning of the year when mortgage rates dipped.
• Pending sales improved for the third consecutive month.
• New listings decreased significantly for both single-family and condominium homes.
• Inventory increased for both single-family and condominium homes.
• Median sales price increased for single-family homes but decreased for condominium homes.
• Days on market increased for both single-family and condominium homes.
• Months supply of inventory increased significantly for both single-family and condominium homes.
• Limited inventory nationwide has put downward pressure on sales prices, and national home prices were lower year-over-year for the first time in over a decade.

FOR MORE INFORMATION REGARDING STATS CONTACT US AT:  dad@MauiRealEstate.net