A real estate group says sales of previously occupied homes rose modestly from March to April as buyers swooped in to take advantage of prices that were 15.4 percent below year-ago levels.Looking at the year over year change in price and quantity for the four regions below we see how a homeowner can sell their home more quickly... reduce the price!
The National Association of Realtors said Wednesday that home sales rose 2.9 percent to an annual rate of 4.68 million last month, from a downwardly revised pace of 4.55 million in March.
The results slightly beat economists' forecasts. Sales had been expected to rise to an annual pace of 4.66 million units, according to Thomson Reuters.
The median sales price plunged to $172,000, down from $201,300 in the same month last year. That was the second-largest drop on record after January, when prices fell 17.5 percent.
Source: Realtor.org
ListingSupply.com has been showing that the supply of homes for sale nationwide has been dropping for several months now. I think home prices in the hardest hit areas like AZ, CA, and FL are pretty near the bottom.
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