US Inspect US Inspect

Existing Home Sale Report for April

The NAR released the April existing home sales report this morning.  The full report is listed below, but here are the highlights:

  1. Sales rose 3% from March, and were 3.5% below April, 2008.  The annual rate is now 4.8 million existing homes sold.
  2. Distressed homes were 45% of the total in April.  Most of the action is in low to mid-priced homes.
  3. Average price of a home was $170,000 in April, 15% below a year earlier.
  4. The months supply increased from 9.6 last month to 10.2 due to sellers entering the prime buying season after sitting on their homes all winter.

REGIONAL

April over March

April 09 over April 08

Ave price

% change from April 08

         

Northeast

11.6%

(10.5%)

$237,400

(9.6%)

Midwest

(0.2%)

(9.9%)

$138,800

(11.7%)

South

1.8%

(8.9%)

$148,000

(12.8%)

West

3.5%

19.4%

$222,600

(21.8%)

Here's the full story.