Rise in Existing-Home Sales for the Month of April
The stats for April are out and according to the National Association of Realtors, existing-home sales rose in April. This rise was mainly at lower price ranges.
Nationally, existing-home sales rose 2.9% in April, making a seasonally adjusted annual rate of 4.68 million units.
In the Western States existing home sales rose 3.5% with the annual rate of 1.17 million in April, which is 19.4% higher from last April.
According to Lawrence Yun (NAR chief economist), first-time buyers are still playing a major role influencing the market, but we’ve also seen a rise of seasonal repeat buyers. “Most of the sales are taking place in lower price ranges and activity is beginning to pick up in the midprice ranges, but high-end home sales remain sluggish.”
Yun Continued to say, ”Because foreclosed properties will likely be released into the market over the rest of the year, it is critical that distressed homes be quickly cleared from the market. Fortunately, home buyers are being attracted to deeply discounted prices and are bidding up many foreclosed listings, particularly in California, Nevada, and Florida – this will set the stage for healthy market conditions going forward.”
Should you have any questions or need further information,
please don’t hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com
Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521
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