Existing home sales wane 17.8% in April in U.S.
Each of the four major regions experienced a decline in month-over-month and year-over-year sales, with the West seeing the greatest dip in both categories.
Total existing-home sales completed transactions that include single-family homes, townhomes, condominiums and co-ops, dropped 17.8% from March to a seasonally-adjusted annual rate of 4.33 million in April.
Overall, sales decreased year-over-year, down 17.2% from a year ago (5.23 million in April 2019).
April's existing-home sales are the lowest level of sales since July 2010 (3.45 million) and the largest month-over-month drop since July 2010 (-22.5%).
The median existing-home price3 for all housing types in April was $286,800, up 7.4% from April 2019 ($267,000), as prices increased in every region.
April's national price increase marks 98 straight months of year-over-year gains. ■