The Law Office of Michael E. Ripley

Exceeding Expectations

Home Sales Have Plunged

According to an article in USA Today (May 1, 2014), home sales in the country have plunged recently. From the month of February to March, new home sales fell 14.5%, throughout the country, from 450,000 to 384,000. Factors influencing the home sales decrease includes: adverse weather in the east (although home sales in the west fell 16.7%); mortgage rates have risen to 4.27%, compared to 3.47% a year ago; and the median home price increased 13%, across the country, to $290,000.00.