April 2012 Existing Home Sales Up, Improvements in Sales and Prices Were Broad Based Across All Regions.

Existing-home sales rose in April and remain above a year ago, while home prices continued to rise, according to the National Association of Realtors®. The improvements in sales and prices were broad based across all regions.

Total existing-home sales1, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 3.4 percent to a seasonally adjusted annual rate of 4.62 million in April from a downwardly revised 4.47 million in March, and are 10.0 percent higher than the 4.20 million-unit level in April 2011.

Lawrence Yun, NAR chief economist, said the housing recovery is underway.  “It is no longer just the investors who are taking advantage of high affordability conditions.  A return of normal home buying for occupancy is helping home sales across all price points, and now the recovery appears to be extending to home prices,” he said.  “The general downtrend in both listed and shadow inventory has shifted from a buyers’ market to one that is much more balanced, but in some areas it has become a seller’s market.”

Read More: April 2012 Existing Home Sales Up, Improvements in Sales and Prices Were Broad Based Across All Regions. 

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Author Bio:

Travis Saxton | Managing Partner In 2010 we had Travis Saxton, our Managing Partner, join our team and he has been working closely with many real estate technology and marketing companies and understands what brokerages and sales professionals need and want to become successful. He is featured weekly in industry publications, webinars, presentations, and regularly presents at national conferences and regional meetings.



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