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Homebuyers overcame one of the housing market's biggest obstacles—an imbalance in supply and demand— in March with a rebound in home sales. The National Association of Realtors reported Wednesday that existing-home sales rose 5 point 1 percent to a seasonally adjusted annual rate of 5 point 33 million in March from a downwardly revised 5 point 07 million in February and 1 point 5 percent year-over-year.
According to NAR, the median existing-home price for all housing types in March was 222 thousand 700 dollars, up 5 point 7 percent from 210 thousand 700 dollars in March 2015. This marks the 49th consecutive month of year-over-year gains. Inventory rose 5 point 9 percent to 1 point 98 million existing homes available for sale in March, but is still 1 point 5 percent lower than a year ago. Unsold inventory is at a 4.5-month supply at the current sales pace, up from 4.4 months in February.
A fiercely raging debate for the last five years is whether or not the added costs imposed on businesses that must comply with increased regulations justifies the benefits of those increased regulations. A recent survey of C-level financial services executives, risk services directors, and compliance officers showed that 86 percent of respondents said they had seen their compliance costs increase due to increased regulation, and 29 percent of respondents said they had to significantly expand their teams that handle complaints.
