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.

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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.

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