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Real Estate Outlook: April Existing-Home Sales Rise!!

By
Real Estate Agent with Keller Williams Premier Realty MN 20549720

The latest existing-home sales report from the National Association of Realtors (NAR) showed promising figures for the month of April.

Sales rose by 3.4 percent, bringing the total amount of existing-home sales to 4.62 million. This is 10.0 healthy percentage points higher than April 2011.

Lawrence Yun, NAR chief economist, said the housing recovery is underway.  "It is no longer just the investors who are taking advantage of high affordability conditions. A return of normal home buying for occupancy is helping home sales across all price points, and now the recovery appears to be extending to home prices," he said. 

He continued that "the general downtrend in both listed and shadow inventory has shifted from a buyers' market to one that is much more balanced, but in some areas it has become a seller's market."

Home sales weren't the only figure on the rise in the latest report. Another indicator of a housing recovery made it's appearance. Home prices were also displaying upward movement in the month of April.

The national median existing-home price rose 10.1 percent for the month, up 3.1 percent from last year. This brings the median price to $177,400.

Regional prices varied, but all increased. The Northeast has the highest current median price-tag -- at $256,600. The West followed a close second at $221,700. The Midwest still holds the title for lowest median home price at $141,400... 

Read the Full Story At: 
http://realtytimes.com/rtpages/20120528_realestateoutlook.htm

Rochelle

Posted by

Rochelle AllisonThanks for reading our St Paul Real Estate Blog! I am a Realtor in the St Paul and Minneapolist area.  I love living in St Paul where the awesome neighborhoods and beautiful homes are my passion.  Our team works with buyers, sellers and investors.  

My concentration on homes for sale includes not only St Paul and Minneapolis, and also the surrounding Twin Cities and Western Wisconsin areas.  For more information on me or our awesome area, visit my website or email me at rochelle@rochelleallison.com.  When you're ready to sell or buy a home - we would love to help! To read what my clients have to say about us and our service, visit my Client Testimonial page.

 

Relocating to the Twin Cities?  Contact the Rochelle Allison Real Estate Team for information on moving to St. Paul and Minneapolis.  651.259.4683

Posted By: Rochelle Allison, REALTOR, specializing in St. Paul and Minneapolis Real Estate   651.259.4683 

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