On May 19, 2022, National Association of Realtors® (NAR) reported that nationwide existing home sales declined 2.4% to annual rate of 5.61 million homes in April of 2022 from 6.01 million homes in March of 2022, and dropped 5.9% from 5.96 million homes from April of 2021.
There were 1.030,000 homes supplies of available inventory in April of 2022, increased 10.8% from March of 2022, but fell 10.4% from 1.15 million homes in April of 2021; while, there were 2.2 months available inventory in April of 2022 increased from to 1.9 months in March of 2022, but decreased from 2.3 months in April of 2021.
On average it took 17 days to sell a home in April of 2022, unchanged from 17 days in March of 2022, and same as from 17 days in April 2021.
First time buyers acquired 28.0% of homes in April of 2022, lower from 30.0% in March of 2022, and down from 31.0% in April of 2021.
Investors purchased 17.0% of homes in April of 2022, reduced from 18.0% in March of 2022, unchanged from 17.0% in April of 2021.
Cash buyers purchased 26.0% of all sales in April of 2022, declined from 28.0% in March of 2022, but up from 25.0% in April of 2021.
Lawrence Yun, NAR chief economist, stated "It looks like more declines are imminent in the upcoming months, and we'll likely return to the pre-pandemic home sales activity after the remarkable surge over the past two years."
For more complete information, on NAR's April 2022 existing home sales report, please click HERE
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