Existing-Home Sales Increase for the First Time This Year

The National Association of Realtors’ (NAR) national existing-home sales data for April showed the first increase of the year. According to the NAR, April existing-home sales up ticked by 1.3% over March, but were still down from 6.8% in April 2013.

On another note, national housing inventory rose by 16.8% in April over March, representing a 5.9-month supply. A healthy housing market typically has a 6-month housing inventory supply. April’s inventory levels were also 6.5% greater than the same time a year ago.

NAR Chief Economist, Lawrence Yun, stated, “Some growth was inevitable after sub-par housing activity in the first quarter, but improved inventory is expanding choices and sales should generally trend upward from this point.” http://bit.ly/1p1HIMJ

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