Key Points:
- Existing-home sales fell 1.9% in April from March, to a seasonally adjusted annual rate of 4.14 million.
- Existing-home sales fell 1.9% from one year ago.
- The median existing-home sales price for April rose 5.7% from one year ago to $407,600 for the tenth consecutive month of year-over-year price increases and the highest price ever for the month of April.
- First-time buyers were responsible for 33% of sales in April, up from 32% in March and 29% in April 2023.
- “Home sales changed little overall, but the upper-end market is experiencing a sizable gain due to more supply coming onto the market,” said NAR Chief Economist Lawrence Yun.
- The Right Facts will continue to monitor home sales.