Existing Home Sales See Third Straight Month of Declines

BY  ON MAY 24, 2021

The National Association of Realtors is reporting that existing home sales were down 2.7% in April to a seasonally-adjusted annual rate of 5.851 million (up 33.9% from one year ago). Total housing inventory at the end of April was 1.16 million units, down 20.5% from one year ago. Click here to read more.

Unsold inventory sits at a 2.4-month supply at the current sales pace with properties remaining on the market for around 17 days. The median existing-home price for all housing types was $341,600, up 19.1% from April, 2020.  Once again, there just aren’t enough homes for sale out there to meet demand.

“Home sales were down again in April from the prior month, as housing supply continues to fall short of demand…We’ll see more inventory come to the market later this year as further COVID-19 vaccinations are administered…Despite the decline, housing demand is still strong compared to one year ago.”  Said Lawrence Yun, NAR’s chief economist.

existing home sales april 2021

Click here to read the full release at the National Association of realtors.

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  • Hamza Ashfaq
    published this page in Updates 2021-06-07 07:12:54 -0600