US Existing-Home Sales Decline 0.5% in April

On Thursday, the National Association of Realtors reported that total existing-home sales—which include completed transactions for single-family homes, townhomes, condominiums, and co-ops—fell 0.5% in April to a seasonally adjusted annual rate (SAAR) of 4.00 million. Compared to a year earlier, sales were down 2.0%, from 4.08 million in April 2024.

Sales declined in the Northeast and West, rose in the Midwest, and were unchanged in the South. Year-over-year, sales were down in the Midwest, South, and West but held steady in the Northeast.

Total housing inventory at the end of April stood at 1.45 million units, up 9.0% from March and 20.8% from one year ago, when inventory was 1.2 million. At the current sales pace, unsold inventory represents a 4.4-month supply—up from 4.0 months in March and 3.5 months in April 2024.

The median existing-home price for all housing types in April was $414,000, an increase of 1.8% from $406,600 a year earlier. Prices rose in the Northeast and Midwest but declined in the South and West.

According to the monthly REALTORS Confidence Index, properties typically remained on the market for 29 days in April, down from 36 days in March but up from 26 days in April 2024.