"US Home Sales Decline in April Amid Rising Mortgage Rates"
TL;DR Summary
Existing-home sales in the U.S. decreased by 1.9% in April, with declines in all four major regions. The total housing inventory increased, and the median existing-home price rose to a record high of $407,600. First-time buyers accounted for 33% of sales, while all-cash sales remained at 28%. Mortgage rates averaged 7.02%, up from 6.39% a year ago. The Northeast, Midwest, and South experienced year-over-year sales decreases, while the West saw an increase.
Topics:business#existing-home-sales#housing-inventory#median-home-price#mortgage-rates#national-association-of-realtors#real-estate
- Existing-Home Sales Retreated 1.9% in April National Association of REALTORS®
- Home Sales Fell Again in April After High Mortgage Rates Damped Activity The Wall Street Journal
- Housing market to see 'slow comeback' as mortgage rates fall Yahoo Finance
- US home sales post second straight monthly drop; house prices accelerate Reuters
- Home Sales Whacked by Mortgage Rates. Active Listings & Price Reductions Jump to Highest in Years. But Sales of High-End Homes Surge WOLF STREET
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