Existing Home Sales Dip

Existing Home Sales Dip

The National Association of Realtors reported that the pace of existing home sales fell in April to an annualized rate of 5.04 million, a drop of 3.3% from the month earlier. Tight supply has resulted in high levels of price appreciation, which nationally amounted to an 8.9% increase from the year-ago period at a median price of $219,400. The increase in prices has undoubtedly caused a tempering effect on sales activity.

Read More

Previous City of Industry Plans to Sell Large Parcel in Chino Hills
Next The Return of the First-Time Buyer

About author

Michael Anderson
Michael Anderson 249 posts

Over the course of his 30-year career, Michael Anderson has worked in the residential development industry in the Pacific Northwest, Northern California and Southern California. He has acquired residential land in excess of $300M for both land development and homebuilding entities and has overseen the construction of approximately 2500 homes. Currently, in semi-retirement, and based out of Newport Beach, CA, Michael continues to invest in and stay abreast of the land markets.

View all posts by this author →

You might also like

Housing Market 0 Comments

The Case Against August’s New Home Sales Data

While the census bureau reported an 18% increase in new home sales month-over-month from July to August, not everybody is convinced of the accuracy of the data and how it

Housing Market

Builders Say Union-Backed Wage Bill Could Raise Housing Costs

By Philip Molnar The latest fight between the homebuilding industry and unions is brewing in Sacramento over a bill that could require higher wages to workers on many residential projects.