The tough winter took its toll on the local real estate market.
Steve Myers, President of the Capital Area Association of Realtors, says home sales declined nearly 15-percent from last winter’s levels.
“Buyers were inside bundled up much like consumers on the retail side of the economy. The real estate industry followed suit” says Myers.
The median home sale price also fell by 11-percent over last year. Davis predicts pent-up demand causing buyers and sellers to enter the market as the weather warms.