The Coronavirus pandemic has pushed a steep decline in the existing-home sales for the second consecutive month. The National Association of Realtors® released that the existing-home sales have fallen 17.8% in April 2020. A significant decrease when looking at the year-to-year numbers. The economic shutdown caused a 17.2% decrease in sales from 5.23 million in April 2019 to 4.33 million in April 2020.
Although the impact of the lockdowns has “temporarily disrupted home sales”, says NAR’s chief economist, Lawrence Yun, “the listings that are on the market are still attracting buyers and boosting home prices.” Leaving hope that the market will make a decent come back.
For more information on Existing-Home Sales for April 2020: Read the Original Article Here: Existing-Home Sales Wane 17.8% in April
Copyright ©2020 “Existing-Home Sales Wane 17.8% in April” NATIONAL ASSOCIATION OF REALTORS®. All rights reserved. Reprinted with permission. May 21, 2020, http://www.nar.realtor/newsroom/existing-home-sales-wane-17-8-in-april