Ekonomické zprávy
22.05.2024

U.S. existing-home sales decline 1.9 per cent in April

The National Association of Realtors (NAR) reported on Wednesday that the U.S. existing home sales declined 1.9 per cent m-o-m to a seasonally adjusted rate of 4.14 million in April from an upwardly revised 4.22 million (from 4.19 million) in March. This marked the lowest rate in three weeks.

Economists had expected home re-sales to rise at a 4.21 million-unit pace last month.

In y-o-y terms, existing-home sales also fell 1.9 per cent in April.

Across regions, existing-home sales dropped in all four major U.S. regions in April, led by Northeast (-4.0 per cent m-o-m). In y-o-y terms, three of the four major regions - the Northeast (-4.0 per cent y-o-y), the South (-3.1 per cent y-o-y) and the Midwest (-1.0 per cent y-o-y) - demonstrated declines in existing-home sales, while the West showed an increase (+1.3 per cent y-o-y).

Over the reviewed period, the median existing-home price for all housing types climbed 5.7 per cent y-o-y to $ $407,600. This represented the tenth straight month of year-over-year increases in median existing-home price and the highest price ever for the month of April.

Single-family home sales came in at a seasonally-adjusted annual rate of 3.74 million in April, down 2.1 per cent m-o-m and 1.3 per cent y-o-y. Meanwhile, existing condominium and co-op sales were registered at a seasonally-adjusted annual rate of 400,000 units in April, unchanged m-o-m and down 7.0 per cent y-o-y. 

Commenting on the latest data, Lawrence Yun, NAR chief economist, noted that home prices reaching a record high for the month of April is very good news for homeowners. “However, the pace of price increases should taper off since more housing inventory is becoming available,” he added.

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