The National Association of Realtors is reporting that existing home sales were down 17.8% in April. Total housing inventory at the end of April was 1.47 million units, down 1.3% from March and down 19.7% from one year ago. Total unsold inventory was at a 4.1-month supply at the current sales pace with properties remaining on the market for around 27 days. The median existing-home price for all housing types was $286,800, up 7.4% from April, 2019.
“The economic lockdowns – occurring from mid-March through April in most states – have temporarily disrupted home sales,” said Lawrence Yun, NAR’s chief economist. “But the listings that are on the market are still attracting buyers and boosting home prices.”
Click here to read the full release at the National Association of Realtors.
