National market update May 30, 2023

Real Estate Agent with Keller Williams Capital Partners Realty 277320





April saw sales of new homes surge to a 13-month high, up 4.1% from March and 11.8% ahead of last year. Inventories have recently made substantial gains, and the median price is down 8.2% from a year ago.

The Mortgage Bankers Association reports new-home purchase applications rose year-over-year for the third straight month. They note: “the broader housing market is leaning more on new construction to boost for-sale inventory.”

Meanwhile, contract signings on existing homes were flat in April, although three of the four major U.S. regions saw monthly gains. Only the Northeast’s numbers decreased, pulling down the national average.

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Comments (3)

Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Great post!  Thanks for sharing and enjoy your day!

May 30, 2023 06:57 AM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

I love all these market updates.  Thanks for sharing

May 30, 2023 07:26 AM
Roy Kelley
Retired - Gaithersburg, MD

Good Tuesday morning, Joe.

Have a great day and a very productive week.

May 30, 2023 08:03 AM