Market Update: Existing home sales soar in March

The existing home sales report showed a 5.1% increase in March. Quicken Loans Vice President Bill Banfield offers the following comments on the report:

“The bounce back in monthly home sales was a welcome sign and more consistent with what we’re seeing on the mortgage application side. It’s encouraging to see the monthly gains as well as the year over year growth suggesting the housing market is seeing increased demand.”

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