On May 21, 2020, NAR.Realtors (NAR) reported that regional existing home sales in the Northeast decreased 16.9% in April of 2020 to an annual rate 540,000 homes, and declined 18.2% from April of 2019. The median price in the Northeast was $312,500 in April 2020, higher 8.7% from April of 2019.
Home sales in the Midwest dropped 12.0% in April of 2020 to an annual rate 1.10 million homes, and lower 8.3% from April of 2019. The median price in the Midwest was $299,400 in April of 2020, jumped 9.3% from April of 2019.
Home sales in the South fell 17.9% in April of 2020 to an annual rate 1.88 million homes, and dropped 16.8% from April of 2019. The median price in the South was $249,400 in April of 2020, gained 6.4% from April of 2019.
Home sales in the West down 25.0% in April of 2020 to an annual rate 810,000 million homes, and lost 27.0% from April of 2019. The median price in the West was $419,300 in April of 2020, rose 6.1% from April of 2019, according to NAR on May 21, 2019.
Lawrence Yun, NAR chief economist stated, Record low mortgage rates likely will be a key factor in driving housing demand as state economies gradually reopen.
For more complete information, on National Association of Realtors's April of 2020 regional existing home sales report, please click HERE
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