Home sales have dropped 1.4% over the past year, largely because the number of sales listings has declined 6.3%. The relatively healthy job market has bolstered demand to. Home sales in April fell.
New-home construction topped estimates in April. demand at the lower end of the market. Economists surveyed by Bloomberg had projected a median 5.35 million pace for sales, with estimates ranging.
The inventory of new homes for sale was 333,000 in May, representing a 6.4 months’ supply. The median sales price was $308,200. The median price of a new home sale a year earlier was $316,700. Regionally, and on a year to date basis, new home sales are 7.5% higher in the South and 3.4% higher in the West.
Existing homes declined in April. a 7.9 percent gain. sales fell 3.3 percent in the West to a rate of 1.18 million, but are still 3.5 percent above a year ago. The median price in the West was $358.
New-Home Sales Declined in April as Demand Fell in West Katia Dmitrieva , Bloomberg News (Bloomberg) — U.S. purchases of new homes fell in April, reflecting a setback in the western part of the country and indicating rising borrowing costs and property prices may limit the market’s progress, according to government data released Wednesday.
Sales of previously owned homes fell in April after surging the previous month, highlighting the fits and starts that have been a hallmark of the housing recovery.
Fannie Mae, the largest mortgage-finance company, forecasts home prices will fall further this year and sales. will decline an additional 2.2 percent in 2011, according to Washington-based Fannie.
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Pending Home Sales Decline in April By Stephen Melman on May 31, 2018 (). The pending home sales index decreased 1.3% in April, and remains 2.1% below the level one year ago, having declined on an annualized basis for the fourth straight month.
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The National Association of Realtors said Wednesday that its pending home sales index fell 2.2 percent last month to 99, its lowest reading since April. the West region, which is among the priciest.
The fall followed a 7.1 per cent national drop in July and brought the decline since April to 19.7 per cent. Sales in August were 20.5 per cent below the level recorded a year earlier in August 2009 and at their lowest point since December 2008.