![]() Total housing inventory at the end of April amounted to 1,030,000 units, up 10.8% from March and down 10.4% from one year ago (1.15 million). “It looks like more declines are imminent in the upcoming months, and we’ll likely return to the pre-pandemic home sales activity after the remarkable surge over the past two years.” “Higher home prices and sharply higher mortgage rates have reduced buyer activity,” said Lawrence Yun, NAR’s chief economist. Year-over-year, sales dropped 5.9% (5.96 million in April 2021). Total existing-home sales,, completed transactions that include single-family homes, townhomes, condominiums and co-ops, slid 2.4% from March to a seasonally adjusted annual rate of 5.61 million in April. Year-over-year sales struggled, as each of the four regions reported dips. regions, with two areas posting gains and the other two experiencing waning in April. Month-over-month sales were split amongst the four major U.S. The median existing-home sales price increased at a slower year-over-year pace of 14.8% to $391,200.Įxisting-home sales recorded a third straight month of declines, slipping slightly in April, according to the National Association of Realtors ®.With slower demand, the inventory of unsold existing homes climbed to 1.03 million by the end of April, or the equivalent of 2.2 months of the monthly sales pace.Sales were down 2.4% from the prior month and 5.9% from one year ago. Existing-home sales fell for the third straight month to a seasonally adjusted annual rate of 5.61 million.
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