NAR: Monthly existing home sales fall 0.4% in April

 · Home shoppers signed 1.5% fewer contracts to buy existing homes in April compared with March, according to the National Association of realtors’ pending home sales index. sales.

The previous month was revised up from 0.3% percent change in April to instead reflect a 0.4. existing-home price for all housing types reached an all-time high in June. The FHFA house price index.

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Total existing-home sales – completed transactions including single-family homes, townhomes, condominiums and co-ops – eased back 0.4% from March to a seasonally adjusted annual rate of 5.19.

After April’s disappointing drop in all segments of the home-sales data, existing home sales were expected to rebound (again) in May and surprised modestly to the upside. Existing home sales rose 2.5% MoM to 5.34mm in May (and saw a modest upward revision in April) However, existing home sales have declined on a YoY basis for 15 straight months.

The median price in the Northeast was $277,700, up 0.9% from April 2018. In the Midwest, existing-home sales saw relatively no percentage change from the month prior, as the annual rate remained 1.17 million, which is 7.9% below April 2018 levels. The median price in the Midwest was $210,500, an increase of 5.5% from a year ago.

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Existing-home sales in the South modestly dropped 0.4% to an annual rate of 2.27 million in April, down 1.7% from a year ago. The median price in the South was $236,800, up 4.4% from a year ago. Existing-home sales in the West grew 1.8% to an annual rate of 1.11 million in April, 5.9% below a year ago.

According to the National Association of Realtors (NAR), existing home sales fell 0.4% in April from March to an annual rate of sales of less than 5.2 million..

 · Existing-homes sales fall slightly as home prices hit an all-time high.. Existing-home sales fell 0.4 percent in May to a seasonally adjusted annual rate of 5.43 million, according to the latest report from the National Association of Realtors. Sales have fallen year over year for three months, and is 3 percent lower than a year ago..

The number of new contracts for existing home sales barely made it onto the bottom rung of analysts’ expectations in May. The National Association of Realtors® (NAR) said its Pending Home Sales Index.

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