On May 21, 2019, National Association of Realtors® (NAR) reported that nationwide existing home sales declined 0.4% to annual rate of 5.19 million homes in April of 2019 from 5.21 million homes in March of 2019, and lower 4.4% of 5.43 milion from April of 2018.
There were 1.83 million homes supplies of available inventory in April of 2019 higher from 1.67 million homes in March of 2019, gained 1.7% from 1.80 million homes in April of 2018; while, there were 4.2 months available inventory in April of 2019 increased from 3.8 months in March of 2019, and up from 4.0 months in April of 2018.
On average it took 24 days to sell a home in April of 2019 decreased from 36 days in March of 2019, but decreased from 26 days in April of 2018.
First time buyers acquired 32.0% of homes in April of 2019, down from 33.0% in March of 2019, and from 33.0% in April of 2018.
Cash buyers purchased 20.0% of all sales in April of 2019, declined from 21.0% in March of 2019, and from 21.0% in April of 2018.
Investors purchased 16.0% of homes in April of 2019, fell from 18.0% in March of 2019, but rose from 14.0% in April of 2018, according to NAR on May 21, 2019.
Lawrence Yun, NAR chief economist, stated “When placing their home on the market, home sellers need to be very realistic and aware of the current conditions.”
For more complete information, on NAR's April of 2019 existing home sales report, please click HERE
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