• Follow us

Real Estate

Existing-home sales dip in April

Existing-home sales for single-family homes, townhouses, condos and co-ops fell 0.4 percent from March to April and were down 4.4 percent year-over-year, according to the latest data published Tuesday by the National Association of Realtors (NAR).

NAR Chief Economist Lawrence Yun, however, isn’t concerned about the dip in the sales and what it means for the market longterm.

“First, we are seeing historically low mortgage rates combined with a pent-up demand to buy, so buyers will look to take advantage of these conditions,” Yun said in a statement. “Also, job creation is improving, causing wage growth to align with home price growth, which helps affordability and will help spur more home sales.”

Cheryl Young, the senior economist at Trulia also believes the market will see an uptick in sales as we enter the summer.

“As we approach summer, prospective buyers will be looking to take advantage of low rates, the slowest home price appreciation in over 6 years and slightly more inventory in the market as home buying and selling season is in full swing,” Young said. “Moreover, mortgage rates will likely remain low due to a strong economy and escalating tension around trade.”

The median price for all existing-homes in April was $267,300, an increase of 3.6 percent year-over-year and the 86th straight month of annual gains.

Open houses lacking impact? How 4 agents got creative.Thinking outside the box can land you the sale READ MORE

At the end of April, the total housing inventory was at 1.83 million – or 4.2-months supply at the current sales pace – up 1.7 percent year-over-year.

“We see that the inventory totals have steadily improved, and will provide more choices for those looking to buy a home,” Yun said. “When placing their home on the market, home sellers need to be very realistic and aware of the current conditions.”

Danielle Hale, the chief economist at realtor.com said March’s pending home sales foreshadowed a pick-up in sales in April, but that strong momentum is still yet to materialize.

Developing…

Article image credited to Courtney Keating on iStock.com Read More



Leave A Comment

More News

Business.Real Estate

This iconic Cherry Hills Village home listed at 2019-06-17 08:00:04An exquisite estate in Cherry Hills Village that finished as a finalist for the 2019 Home of the Year in Colorado Homes & Lifestyles Magazine was

Opponents pour money into effort to curb growth 2019-06-16 08:00:44A ballot measure that would markedly curtail new homebuilding in Colorado's fifth-largest city has stimulated a big money effort to quash it -- with

Denver’s latest health trend doesn’t involve a spin 2019-06-14 08:00:28To the needle-averse, voluntarily shelling out more than a hundred bucks so that a nurse can hook you up with an IV bag loaded with saline solution an

As Castle Rock looks to evolve beyond a 2019-06-13 08:00:50When looked at through the lens of economic development, Castle Rock might best be described as a recent college grad. It's got tools and potential.

Denver police consider bringing controversial crime-free housing program 2019-06-12 09:53:16The idea behind the crime free multi-housing program is to keep illegal activity out of rental properties by implementing rules that state a renter ca

Denver is the most expensive city to rent 2019-06-11 16:19:22Denver has the most expensive rental rate in the metro area, with a median cost of $1,540 to rent a one-bedroom apartment.

Why would someone tear down a $2.1 million 2019-06-11 08:00:52A luxurious estate in Boulder's Knollwood neighborhood is on the market for $7.5 million.

Brighton’s farming heritage is under pressure. Historic Splendid 2019-06-10 08:00:18Brighton and Adams County have teamed up to create Historic Splendid Valley, a dusted-off moniker that traces back to the city's founding and identif

Meth-contaminated row home in Denver selling for $500,000 2019-06-07 13:41:39Don't declare it a buyer's market just yet. A Denver row home contaminated with meth just sold for $500,000.

Funeral home in Denver’s Berkeley neighborhood could be 2019-06-05 08:00:37The Olinger Moore Howard-Berkeley Park Funeral Chapel has stood at the northeast corner of Tennyson Street and West 46th Avenue since 1960, according

“A new renaissance”: African-American businesses, investors celebrating new 2019-05-27 08:00:44Groundbreaking for the Hooper building has helped generate buzz for the Five Points historic cultural district and the Welton Street corridor it cover

Want to become a landlord in Denver? Chilean 2019-05-26 08:00:24First-time homebuyers have different options and programs in trying to scrape up the downpayment to get into a property. Chilean company has picked De

NYT > Real Estate

The Boutique Fitness Boom 2019-06-17 12:30:40Can $40 exercise classes save the attenuated American mall?

Can a Building Charge You for Bedbugs? 2019-06-17 06:57:35Short answer: Yes. But only if they can find you negligent, which is hard to do.

Shopping for Catchalls 2019-06-17 05:00:09What’s the most useful thing you didn’t realize you needed? A stylish place to put all those odds and ends.

Homes That Sold for Around $450,000 2019-06-16 05:00:09Recent residential sales in New York City and the region.

$180,000 Homes in New York, Indiana and Wisconsin 2019-06-15 11:10:34A former schoolhouse in Andes, a 1923 brick house in South Bend, and an 1892 bungalow in Milwaukee.

Weekending in the Suburbs 2019-06-15 11:08:58Instead of buying a second home several hours from the city, some New Yorkers are looking to suburbia for a slice of the country.

New Rent Laws Pass in N.Y.: ‘The Pendulum 2019-06-15 02:22:54The package, signed by Gov. Andrew Cuomo, significantly strengthened protections for all tenants in New York City.

Deadline Approaching for Elevator Upgrades 2019-06-14 11:50:51Some 44,000 elevators in New York must have door-lock systems installed by the end of the year.

Rent Regulations in New York: How They’ll Affect 2019-06-14 10:14:51The changes would be sweeping, covering everything from security deposits to apartment upgrades.

A Country House, in the Suburbs 2019-06-14 10:08:33For New Yorkers who aren’t ready to move to the suburbs, spending weekends there can be an appealing option.

What You Get for $180,000 2019-06-14 01:16:26A former schoolhouse in Andes, N.Y.; a 1923 brick house in South Bend, Ind.; and an 1892 bungalow in Milwaukee.

House Hunting in … Mexico 2019-06-14 01:04:40In the culturally rich city of San Miguel de Allende, home prices are sagging after a recent surge in new construction.

Mortgage News Daily

May Uptick in Builder Confidence Proves Fleeting 2019-06-17 11:09:18Posted To: MND NewsWireThe National Association of Home Builders' (NAHB's) measure of builder confidence broke out of its multi-month slump in May,

MBS Day Ahead: Housing Data and The Fed 2019-06-17 09:25:06Posted To: MBS CommentaryIn the week just past, the bond market began by threatening to bounce toward higher rates after an impressive, 5-week rally t

Commercial Products; Flood and Disaster Updates; Capital Markets 2019-06-17 09:19:03Posted To: Pipeline PressI find builder’s naming policies amusing. Let’s call a subdivision “Hidden Valley” or “Lonesome

MBS RECAP: Modest Reactions to Econ Data as 2019-06-14 18:27:44Posted To: MBS CommentarySomehow, the bond market managed to end the week at 2.084% (10yr yield) which is exactly where it ended last week. In all my

Mortgage Rates Just Had Another Awesome Week 2019-06-14 18:07:00Posted To: Mortgage Rate WatchWhile we can't say that this week's best mortgage rate offerings were quite as good as last week's best, they were pr

Calabria and Carson: Housing Leaders Talk Reform, Accomplishments 2019-06-14 12:59:55Posted To: MND NewsWireAttendees at the Ginnie Mae Summit commemorating the agencies 50 th anniversary on Thursday heard from both Dr. Ben Carson, Sec

Two FHA Premium Changes, An End to MI 2019-06-14 09:08:32Posted To: MND NewsWireThe House Financial Services Committee (FSC) passed a clutch of bills this week, several of which will assist homebuyers and ho

eClose, Non-QM, Broker Products; VA and FHA Investor 2019-06-14 09:05:18Posted To: Pipeline Press“The City of Baltimore, Maryland suffered a ransomware attack on May 7, 2019. Due to the attack, the City is currently

MBS Day Ahead: Retail Sales Takes a Swing 2019-06-14 08:31:00Posted To: MBS CommentaryIn the day just past, bonds managed to add modestly but meaningfully to a 2.5-day rally that's acted to keep them in a conso

MBS RECAP: Bonds Look Determined to Consolidate 2019-06-13 17:04:49Posted To: MBS CommentaryMonday and Tuesday were a bit nerve-racking as it looked like yields might break back above the pre-Mexico-tariff-threat gap

Mortgage Rates Continue Easing Back Toward Long-Term Lows 2019-06-13 16:30:00Posted To: Mortgage Rate WatchMortgage rates moved lower for the 2nd straight day, which brings them back in line with Monday's levels. While these a

MBA Announces Affordable Housing Initiative, Sees New Home 2019-06-13 11:30:50Posted To: MND NewsWireThe Mortgage Bankers Association (MBA) released its regular monthly estimates for new home sales on Thursday and also announced

Inman News

Housing starts and completions dip in May 2019-06-18 09:20:11Privately-owned housing starts dropped 0.9 percent month-over-month and 4.7 percent year-over-year in June, according to new Census data.

How to ensure your vacation rental gets great 2019-06-18 09:00:09Vacation and short-term rentals have exploded onto the scene, snatching up short-term stay market share from the hotel industry in high volumes. But w

Ikea rebuilds rooms from Friends, Simpsons and Stranger 2019-06-18 08:57:36A new Ikea campaign in the United Arab Emirates recreates the living rooms of three iconic TV shows with furniture that can be bought in its stores.

Property management startup Home365 launches in Las Vegas 2019-06-18 08:15:32The Bay Area-based startup offers full-service management for property owners at a single fee determined by an algorithm.

Vacasa takes over management of 85 properties in 2019-06-18 08:00:11Sea to Sky is based in Seattle and currently manages 85 properties, all of which Vacasa will take over. Michelle Acquavella founded Sea to Sky in 2003

Naked data under the stars: A real estate 2019-06-18 05:00:13Industry data is often masked in layers of cosmetic “enhancements” and workarounds. It presents relationship problems when agents, brokers

The essential guide to investment properties 2019-06-18 05:00:11It's a huge industry, and one that represents an opportunity for agents. But it's also a field with quirks, culture, sub-categories and methodologie

Agent/broker perspective: How to help agents avoid burning 2019-06-18 04:29:13In this monthly column, Anthony Askowitz explores a hypothetical Miami real estate situation from both sides of the broker/agent dynamic. A successful

Office morale low? 3 tips for raising spirits 2019-06-18 03:45:59Keeping the office in a positive mindset requires creativity, flexibility and authenticity. Here are three proven ways to raise office morale.

Can commercial real estate provide investors a hedge 2019-06-18 03:01:41It’s a strange time to be an investor. We’re in a longtime bull market, but the 2008 financial crisis is still fresh in most investors&rsq

Bombshell lawsuit takes a new turn 2019-06-18 00:30:15The bombshell lawsuit that could upend the U.S. real estate industry has been amended, adding more plaintiffs and defendants and emphasizing the role

Sotheby’s International Realty heads to Qatar 2019-06-17 17:25:27Sotheby's International Realty is expanding its Middle East footprint with a new brokerage in Qatar, owned by Alfardan Group, a lifestyle conglo


Disclaimer and Notice:WorldProNews.com is not responsible of these news or any information published on this website.