Sales of previously owned homes fell 3.2% in April from the prior month due to limited housing supply, according to the National Association of Realtors.
National Association of Home Builders CEO Jerry Howard breaks down April's housing market index, which showed new home starts rose slightly.continued to slide in April as limited inventory and high prices cooled consumer demand.
"Home sales are bouncing back and forth but remain above recent cyclical lows," said Lawrence Yun, NAR chief economist. "The combination of, limited inventory and fluctuating mortgage rates over the last several months have created an environment of push-pull housing demand." Limited inventory has also bolstered demand: Homes sold on average in just 22 days, down from 29 days in March and up from 17 days one year ago. , homes typically sat on the market for about a month before being sold.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US: Existing Home Sales drop by 3.4% in April vs. 0.1% expectedExisting Home Sales in the US dropped by 3.4% in April to an adjusted annual rate of 4.28 million, the National Association of Realtors (NAR) reported
Read more »
Home sales, prices fell in April as limited listings, elevated mortgage rates frustrate buyersSales of previously occupied U.S. homes fell again last month, more evidence that many prospective homebuyers are being held back by a persistently low inventory of homes for sale and elevated mortgage rates.
Read more »
The Houston region's new auto sales and prices were flat for the month of AprilHouston's vehicle sales in April were just about the same as last year. Prices were...
Read more »
PolitiFact - Pro-Trump PAC says DeSantis pushed 23% national sales tax in Congress, omitting key detailsIn Congress, Ron DeSantis pushed a 23% national sales tax. A pro-Donald Trump ad said DeSantis co-sponsored the Fair Tax bill, but that adds the national sales tax in lieu of other taxes including income tax.
Read more »
PolitiFact - Pro-Trump PAC says DeSantis pushed 23% national sales tax in Congress, omitting key detailsIn Congress, Ron DeSantis pushed a 23% national sales tax. A pro-Donald Trump ad said DeSantis co-sponsored the Fair Tax bill, but that adds the national sales tax in lieu of other taxes including income tax.
Read more »
Home Prices Posted Largest Annual Drop in More Than 11 Years in AprilU.S. existing home sales, which make up most of the housing market, fell 3.4% in April from the prior month to a seasonally adjusted annual rate of 4.28 million.
Read more »