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


Posted by on May 22, 2012 in Headlines | 0 comments

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. 

Author Bio: Travis Saxton is the marketing and technology manager at REAL Trends. Prior to operating this arm for REAL Trends, Travis was the director of online services for a newspaper consulting company. He greatly enjoys working with real estate companies adapt new cutting edge strategies and perfecting their online presence and systems. He has experience in the following areas: Websites, SEO/SEM, CRM/Lead Generation Systems, Traditional Marketing and Social Media Marketing, Real Estate Technology Consulting.

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