Keeping you up to date on the latest data releases.
- Existing Single Family Home Sales
Historically, April is peak home-buying season. However, the National Association of Realtors reported that sales of existing single-family homes this April are down 0.5 percent from March, with only 4.4 million units (annualized) sold. Compared to April of 2010, sales are down an even steeper 12.6 percent. Although the median sales price rose to a four-month high of $163,200, prices are still down 5.4 percent from this time last year. The Northeast was hit the hardest, with an 8.5 percent decline in sales from March, which is a considerable downturn of 31.6 percent from April of last year. Further evidence of the weakness in the housing market is seen in the rise in housing inventory to 3.3 million units, a five-month high and an 11.4 percent increase from March.