Existing Home Sales See Third Straight Month of Declines

The National Association of Realtors is reporting that existing home sales were down 2.7% in April to a seasonally-adjusted annual rate of 5.851 million (up 33.9% from one year ago). Total housing inventory at the end of April was 1.16 million units, down 20.5% from one year ago. Unsold inventory sits at a 2.4-month supply at the current sales pace with properties remaining on the market for around 17 days. The median existing-home price for all housing types was $341,600, up 19.1% from April, 2020. Once again, there just aren’t enough homes for sale out there to meet demand. Continue reading HERE...