According the National Association of Realtors®, April was the third straight month in which existing home sales dropped. The decline is 2.4% below March 2022’s sales and down 5.9% from April 2021. Single-family home and condo sales are also below last year’s numbers, with condo sales down 13.9% from April 2021.
It is not all bad news. Existing homes sales in the Northeast and Midwest were on the rise, if only a couple of percentage points. The median price for home sales are up as well, more than 8% from the same time last year. The median price in the Northeast is up to $412,100, while the Midwest is seeing a median price of $282,000.
Read the original article here: https://www.nar.realtor/newsroom/existing-home-sales-retract-2-4-in-april