Home sales to date this year are lagging behind last year.
Capital Area Association of Realtors president Steve Myers says this past winter’s weather is the main reason behind the decrease in sales.
“We are still working our way through the challenges of the winter. January and February were very lean on sales. When it is 8 below zero and there is 8-inches of snow on the ground, people don’t buy residential real estate,” according to Myers.
Myers says May 2014 sales numbers are up over last May, though. He says a particularly low inventory of housing stock is making the area a “seller’s market,” resulting in a nearly 2-percent decline in the median price for a single-family home compared to a year ago.