Home resales decline 2.3% as supply tightens

The drop in re-sales of single-family homes, townhouses, condos and co-ops declined to a seasonally adjusted annual rate of 5.57 million in April from a downwardly revised 5.70 million in March, the NAR said in a release. Sales are 1.6 percent above a year ago, the NAR reported.

“Stubbornly low supply levels” are driving down sales, according to NAR, as homes on the market decreased to 29 days from 34 days in March and 39 days a year ago.

“Last month’s dip in closings was somewhat expected given that there was such a strong sales increase in March at 4.2 percent, and new and existing inventory is not keeping up with the fast pace homes are coming off the market,” Lawrence Yun, NAR’s chief economist, said in a release. “Demand is easily outstripping supply in most of the country and it’s stymieing many prospective buyers from finding a home to purchase.”

If you have considered Selling, the time is now. Hurry, don’t miss out. Call today.

Rob Roham

Broker/Owner

Realtyweb.com

888-829-2629

img

Rob Roham

Related posts

Cupertino Home on 2 acres for $519,000????

What? This is crazy YES…..Another fantastic REO/Foreclosure bargain by Rob...

Continue reading
by Rob Roham

Get Moving! 4 Urgent Reasons You Should Sell Your Home in 2017

If you’ve been sitting on the fence about selling your home, it might just be time to hop...

Continue reading
by Rob Roham

ROB ROHAM ADVICE FOR PROPERTY SELLERS, PART # 3

  Are home selling costs deductible? If you sell your home and realize a taxable gain...

Continue reading
by Rob Roham