On May 21, 2020, Magazine.Realtors reported that nationwide existing home sales dropped 17.8% to annual rate of 4.33 million homes in April of 2020 from March of 2020, and fell 17.2% from 5.23 million homes from April of 2019.
There were 1.47 million homes supplies of available inventory in April of 2020, declined 19.7% from April of 2019; while, there were 4.1 months available inventory in April of 2020.
On average it took 27 days to sell a home in April of 2020, increased from 24 days in April 2019.
First time buyers acquired 36.0% of homes in April of 2020, higher from 32.0% in April of 2019.
Cash buyers purchased 15.0% of all sales in April of 2020, lower from 20.0% in April of 2019.
Investors purchased 10.0% of homes in April of 2020, decreased from 16.0% in April of 2019, according to Realtors on May 21, 2019.
Lawrence Yun, NAR chief economist, stated “But the listings that are on the market are still attracting buyers and boosting home prices.”
For more complete information, on NAR's April 2020 existing home sales report, please click HERE