Home Sales Stall; Sellers Need to be Realistic

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Posted To: MND NewsWire

This one might smart a bit. There were big hopes for home sales in April, with interest rates continuing at unexpectedly low levels, unemployment at a 50-year low, and the spring market supposedly in full swing. Analysts polled by Econoday expected that the existing home sales number would jump from the annual rate of 5.210 million sales in March to a consensus of 5.350 million, with some forecasting as high as a 5.400 million rate. Instead, the National Association of Realtors® said existing home sales ticked down even further, adding to the 4.9 percent month-over-month decline in March. Pre-owned single-family homes, townhomes, condominiums, and cooperative apartments sold at a seasonally adjusted annual rate of 5.19 million in April, down 0.4 percent from March. The year-over-year gap...(read more)

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Source: http://www.mortgagen...

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