Existing Home Sales Drop 2.4% in April

The National Association of Realtors is reporting that existing home sales were down 2.4% in April to a seasonally-adjusted annual rate of 5.61 million (down 5.9% from one year ago). Total housing inventory at the end of April was 1,030,000 units, down 10.4% from one year ago. Unsold inventory sits at a 2.2-month supply at the current sales rate with properties remaining on the market for around 17 days. The median existing-home price for all housing types in April was $391k, which was up 14.8% from one year ago. Continue reading HERE...