Housing Starts During April 2023

The U.S. Commerce Department this morning released its Housing Starts report for April 2023:

---------------------------------------------------

Housing Starts:
Predicted: 1,400,000
Actual: 1,401,000

Change From Previous Month: +2.19% (+30,000 New Units)

• Change From One Year Previous: -22.3% (-402,000 New Units)

---------------------------------------------------

Building Permits:
Predicted: 1,400,000
Actual: 1,416,000

Change From Previous Month: -1.46% (-21,000 New Permits)

• Change From One Year Previous: -21.11%  (-379,000 New Permits)

----------------------------------------------------

Housing Starts: The top, yellow-highlighted figure is a measure of initial construction of single and multi-family residential units in the United States for the indicated month. Seasonally adjusted annual rate. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

If you're wondering about the demand for new homes in the United States, or about the American residential construction industry in general, then you should pay attention to the monthly Housing Starts report. This report also offers insight into specific types of consumer spending: when housing starts are up, demand for the stuff that a consumer would purchase for a new home (large appliances, consumer electronics, furniture, etc.) tends to also rise -- and vice versa.

=================

CHART: Housing Starts
+ Building Permits
+ Completions
 April 2023 Update

=================

• Click here to view the full Commerce Department report (PDF)

================

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Housing Starts During November 2022

The U.S. Commerce Department this morning released its Housing Starts report for November 2022:

---------------------------------------------------

Housing Starts:
Predicted: 1,500,000
Actual: 1,427,000

Change From Previous Month: -0.49% (-7,000 New Units)

• Change From One Year Previous: -16.35% (-279,000 New Units)

---------------------------------------------------

Building Permits:
Predicted: 1,400,000
Actual: 1,342,000

Change From Previous Month: -11.24% (-170,000 New Permits)

• Change From One Year Previous: -22.38%  (-387,000 New Permits)

----------------------------------------------------

Housing Starts: The top, yellow-highlighted figure is a measure of initial construction of single and multi-family residential units in the United States for the indicated month. Seasonally adjusted annual rate. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

If you're wondering about the demand for new homes in the United States, or about the American residential construction industry in general, then you should pay attention to the monthly Housing Starts report. This report also offers insight into specific types of consumer spending: when housing starts are up, demand for the stuff that a consumer would purchase for a new home (large appliances, consumer electronics, furniture, etc.) tends to also rise -- and vice versa.

=================

CHART: Housing Starts
+ Building Permits
+ Completions
November 2022 Update

=================

• Click here to view the full Commerce Department report (PDF)

================

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New Home Sales During September 2022

The September 2022 New Home Sales report was released by the Commerce Department this morning:

------------------------------------------------------

Predicted: 600,000

• Actual New Home Sales: 603,000

------------------------------------------------------

• Change from One Month Previous: -74,000 units (-10.93%)
  
  
• Change from One Year Previous: -129,000 units (-17.62%)

------------------------------------------------------

Median Price for a New Home
During September 2022: $470,600 
 

***************************

Average Price for a New Home
During September 2022: $517,700

------------------------------------------------------

Inventory: 462,000 (9.2 months supply at current sales rate; seasonally‐adjusted estimate.)

------------------------------------------------------

================================

 

CHART: New Home Sales
September 2022 Update

================================

• Click Here for Historical Prices and a Price Chart.

================================

Compiled jointly by the U.S. Commerce Department and the U.S. Department of Housing and Urban Development, the yellow-highlighted figure above is the seasonally adjusted and annualized number of newly-built homes with committed buyers for the indicated month.

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

The New Home Sales report is watched by economists and investors because it offers insight into the state of the U.S. housing market, and also provides data that can be used to predict sales of large household furniture and appliances like refrigerators, air conditioners, microwave ovens, etc.


================================

• Click here to view the full Commerce Department report (PDF)
  
  

================================

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New Home Sales During August 2022

The August 2022 New Home Sales report was released by the Commerce Department this morning:

------------------------------------------------------

Predicted: 550,000

• Actual New Home Sales: 685,000

------------------------------------------------------

• Change from One Month Previous: +153,000 units (+28.76%)
  
  
• Change from One Year Previous: -1,000 units (-0.146%)

------------------------------------------------------

Median Price for a New Home
During August 2022: $436,800 
 

***************************

Average Price for a New Home
During August 2022: $521,800

------------------------------------------------------

Inventory: 461,000 (8.1 months supply at current sales rate; seasonally‐adjusted estimate.)

------------------------------------------------------

================================

 

CHART: New Home Sales
August 2022 Update

================================

• Click Here for Historical Prices and a Price Chart.

================================

Compiled jointly by the U.S. Commerce Department and the U.S. Department of Housing and Urban Development, the yellow-highlighted figure above is the seasonally adjusted and annualized number of newly-built homes with committed buyers for the indicated month.

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

The New Home Sales report is watched by economists and investors because it offers insight into the state of the U.S. housing market, and also provides data that can be used to predict sales of large household furniture and appliances like refrigerators, air conditioners, microwave ovens, etc.


================================

• Click here to view the full Commerce Department report (PDF)
  
  

================================

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Existing Home Sales During August 2022

The Existing Home Sales report for August 2022 was released by The National Association of Realtors® (NAR®) this morning:

Predicted: 4,800,000

• Actual: 4,800,000

==========

•  Change from Previous Month: -0.415% (-20,000 homes)
  
  
•  Change from A Year Ago: -19.87% (-1,190,000 homes)

==========

Inventory: 1,280,000 (3.2 months supply.)

==========

The yellow-highlighted, "actual" figure above represents the preliminary, seasonally adjusted annualized sales count of existing homes, co-ops and condominiums for the indicated month. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

------------------------------------------------------

• Median Price: $389,500
  
  
• Price Change from A Year Ago: +7.75% (+$28,000)

------------------------------------------------------ 

==========

• Click here for historical prices and a chart.

==========

From Today's Report:

"...'The housing sector is the most sensitive to and experiences the most immediate impacts from the Federal Reserve's interest rate policy changes,' said NAR Chief Economist Lawrence Yun. 'The softness in home sales reflects this year's escalating mortgage rates. Nonetheless, homeowners are doing well with near nonexistent distressed property sales and home prices still higher than a year ago.'


'Inventory will remain tight in the coming months and even for the next couple of years,' Yun added. 'Some homeowners are unwilling to trade up or trade down after locking in historically-low mortgage rates in recent years, increasing the need for more new-home construction to boost supply.'


The median existing-home price for all housing types in August was $389,500, a 7.7% jump from August 2021 ($361,500), as prices ascended in all regions. This marks 126 consecutive months of year-over-year increases, the longest-running streak on record. However, it was the second month in a row that the median sales price retracted after reaching a record high of $413,800 in June, the usual seasonal trend of prices declining after peaking in the early summer.


Properties typically remained on the market for 16 days in August, up from 14 days in July and down from 17 days in August 2021. Eighty-one percent of homes sold in August 2022 were on the market for less than a month..."

==================

• Click here to view the NAR data.

==================

 

INFOGRAPHIC: Existing Home Sales
August 2022 UPDATE

 

==================

 

 

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Housing Starts During August 2022

The U.S. Commerce Department this morning released its Housing Starts report for August 2022:

---------------------------------------------------

Housing Starts:
Predicted: 1,600,000
Actual: 1,575,000

Change From Previous Month: +12.18% (+171,000 New Units)

• Change From One Year Previous: -0.063% (-1,000 New Units)

---------------------------------------------------

Building Permits:
Predicted: 1,600,000
Actual: 1,517,000

Change From Previous Month: -9.97% (-168,000 New Permits)

• Change From One Year Previous: -14.39%  (-255,000 New Permits)

----------------------------------------------------

Housing Starts: The top, yellow-highlighted figure is a measure of initial construction of single and multi-family residential units in the United States for the indicated month. Seasonally adjusted annual rate. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

If you're wondering about the demand for new homes in the United States, or about the American residential construction industry in general, then you should pay attention to the monthly Housing Starts report. This report also offers insight into specific types of consumer spending: when housing starts are up, demand for the stuff that a consumer would purchase for a new home (large appliances, consumer electronics, furniture, etc.) tends to also rise -- and vice versa.

=================

CHART: Housing Starts
+ Building Permits
+ Completions
August 2022 Update

=================

• Click here to view the full Commerce Department report (PDF)

================

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New Home Sales During July 2022

The July 2022 New Home Sales report was released by the Commerce Department this morning:

------------------------------------------------------

Predicted: 550,000

• Actual New Home Sales: 511,000

------------------------------------------------------

• Change from One Month Previous: -74,000 units (-12.65%)
  
  
• Change from One Year Previous: -215,000 units (-29.61%)

------------------------------------------------------

Median Price for a New Home
During July 2022: $439,400 
 

***************************

Average Price for a New Home
During July 2022: $546,800

------------------------------------------------------

Inventory: 464,000 (10.9 months supply at current sales rate; seasonally‐adjusted estimate.)

------------------------------------------------------

================================

 

CHART: New Home Sales - July 2022 Update

================================

• Click Here for Historical Prices and a Price Chart.

================================

Compiled jointly by the U.S. Commerce Department and the U.S. Department of Housing and Urban Development, the yellow-highlighted figure above is the seasonally adjusted and annualized number of newly-built homes with committed buyers for the indicated month.

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

The New Home Sales report is watched by economists and investors because it offers insight into the state of the U.S. housing market, and also provides data that can be used to predict sales of large household furniture and appliances like refrigerators, air conditioners, microwave ovens, etc.


================================

• Click here to view the full Commerce Department report (PDF)
  
  

================================

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Existing Home Sales During July 2022

The Existing Home Sales report for July 2022 was released by The National Association of Realtors® (NAR®) this morning:

Predicted: 5,000,000

• Actual: 4,810,000

==========

•  Change from Previous Month: -5.87% (-300,000 homes)
  
  
•  Change from A Year Ago: -20.23% (-1,220,000 homes)

==========

Inventory: 1,310,000 (3.3 months supply.)

==========

The yellow-highlighted, "actual" figure above represents the preliminary, seasonally adjusted annualized sales count of existing homes, co-ops and condominiums for the indicated month. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

------------------------------------------------------

• Median Price: $403,800
  
  
• Price Change from A Year Ago: +10.75% (+$39,200)

------------------------------------------------------ 

==========

• Click here for historical prices and a chart.

==========

From Today's Report:

"...'The ongoing sales decline reflects the impact of the mortgage rate peak of 6% in early June,' said NAR Chief Economist Lawrence Yun. 'Home sales may soon stabilize since mortgage rates have fallen to near 5%, thereby giving an additional boost of purchasing power to home buyers.'

'We're witnessing a housing recession in terms of declining home sales and home building,' Yun added. 'However, it's not a recession in home prices. Inventory remains tight and prices continue to rise nationally with nearly 40% of homes still commanding the full list price.'

Properties typically remained on the market for 14 days in July, the same as in June and down from 17 days in July 2021. The 14 days on market are the fewest since NAR began tracking it in May 2011. Eighty-two percent of homes sold in July 2022 were on the market for less than a month.

Realtor.com®'s Market Trends Report in July shows that the largest year-over-year median list price growth occurred in Miami (+36.2%), Memphis (+32.7%) and Orlando (+28.4%). Phoenix reported the highest increase in the share of homes that had their prices reduced compared to last year (+31.8 percentage points), followed by Las Vegas (+28.6 percentage points) and Austin (+27.8 percentage points)..."

==================

• Click here to view the NAR data.

==================

 

INFOGRAPHIC: Existing Home Sales
July 2022 UPDATE

==================

 

 

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Housing Starts During July 2022

The U.S. Commerce Department this morning released its Housing Starts report for July 2022:

---------------------------------------------------

Housing Starts:
Predicted: 1,500,000
Actual: 1,446,000

Change From Previous Month: -9.57% (-153,000 New Units)

• Change From One Year Previous: -8.07% (-127,000 New Units)

---------------------------------------------------

Building Permits:
Predicted: 1,700,000
Actual: 1,674,000

Change From Previous Month: -1.3% (-22,000 New Permits)

• Change From One Year Previous: +1.15%  (+19,000 New Permits)

----------------------------------------------------

Housing Starts: The top, yellow-highlighted figure is a measure of initial construction of single and multi-family residential units in the United States for the indicated month. Seasonally adjusted annual rate. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

If you're wondering about the demand for new homes in the United States, or about the American residential construction industry in general, then you should pay attention to the monthly Housing Starts report. This report also offers insight into specific types of consumer spending: when housing starts are up, demand for the stuff that a consumer would purchase for a new home (large appliances, consumer electronics, furniture, etc.) tends to also rise -- and vice versa.

=================

CHART: Housing Starts
+ Building Permits
+ Completions
 July 2022 Update

=================

• Click here to view the full Commerce Department report (PDF)

================

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New Home Sales During June 2022

The June 2022 New Home Sales report was released by the Commerce Department this morning:

------------------------------------------------------

Predicted: 650,000

• Actual New Home Sales: 590,000

------------------------------------------------------

• Change from One Month Previous: -52,000 units (-8.1%)
  
  
• Change from One Year Previous: -124,000 units (-17.37%)

------------------------------------------------------

Median Price for a New Home
During June 2022: $402,400 
 

***************************

Average Price for a New Home
During June 2022: $456,800

------------------------------------------------------

Inventory: 457,000 (9.3 months supply at current sales rate; seasonally‐adjusted estimate.)

------------------------------------------------------

================================

 

CHART: New Home Sales - June 2022 Update 

================================

• Click Here for Historical Prices and a Price Chart.

================================

Compiled jointly by the U.S. Commerce Department and the U.S. Department of Housing and Urban Development, the yellow-highlighted figure above is the seasonally adjusted and annualized number of newly-built homes with committed buyers for the indicated month.

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

The New Home Sales report is watched by economists and investors because it offers insight into the state of the U.S. housing market, and also provides data that can be used to predict sales of large household furniture and appliances like refrigerators, air conditioners, microwave ovens, etc.


================================

• Click here to view the full Commerce Department report (PDF)
  
  

================================

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Existing Home Sales During June 2022

The Existing Home Sales report for June 2022 was released by The National Association of Realtors® (NAR®) this morning:

Predicted: 5,400,000

• Actual: 5,120,000

==========

•  Change from Previous Month: -5.36% (-29,000 homes)
  
  
•  Change from A Year Ago: -14.24% (-85,000 homes)

==========

Inventory: 1,260,000 (3.0 months supply; +20.0% year-on-year.)

==========

The yellow-highlighted, "actual" figure above represents the preliminary, seasonally adjusted annualized sales count of existing homes, co-ops and condominiums for the indicated month. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

------------------------------------------------------

• Median Price: $416,000 (New Record-High)
  
  
• Price Change from A Year Ago: +13.38% (+$49,100)

------------------------------------------------------ 

==========

• Click here for historical prices and a chart.

==========

From Today's Report:

"...'Falling housing affordability continues to take a toll on potential home buyers,' said NAR Chief Economist Lawrence Yun. 'Both mortgage rates and home prices have risen too sharply in a short span of time.'

'Finally, there are more homes on the market,' Yun added. 'Interestingly though, the record-low pace of days on market implies a fuzzier picture on home prices. Homes priced right are selling very quickly, but homes priced too high are deterring prospective buyers.'

First-time buyers were responsible for 30% of sales in June, up from 27% in May and down from 31% in June 2021. NAR's 2021 Profile of Home Buyers and Sellers reported that the annual share of first-time buyers was 34%.

All-cash sales accounted for 25% of transactions in June, the same share as in May and up from 23% in June 2021.

Distressed sales -- foreclosures and short sales -- represented less than 1% of sales in June, essentially unchanged from May 2022 and June 2021.

'If consumer price inflation continues to rise, then mortgage rates will move higher,' Yun said. 'Rates will stabilize only when signs of peak inflation appear. If inflation is contained, then mortgage rates may even decline somewhat.'..."

==================

• Click here to view the NAR data.

==================

 

INFOGRAPHIC: Existing Home Sales
June 2022 UPDATE

==================

 

 

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Housing Starts During June 2022

The U.S. Commerce Department this morning released its Housing Starts report for June 2022:

---------------------------------------------------

Housing Starts:
Predicted: 1,600,000
Actual: 1,559,000

Change From Previous Month: -2.011% (-32,000 New Units)

• Change From One Year Previous: -6.31% (-105,000 New Units)

---------------------------------------------------

Building Permits:
Predicted: 1,700,000
Actual: 1,685,000

Change From Previous Month: -0.59% (-10,000 New Permits)

• Change From One Year Previous: +1.44%  (+24,000 New Permits)

----------------------------------------------------

Housing Starts: The top, yellow-highlighted figure is a measure of initial construction of single and multi-family residential units in the United States for the indicated month. Seasonally adjusted annual rate. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

If you're wondering about the demand for new homes in the United States, or about the American residential construction industry in general, then you should pay attention to the monthly Housing Starts report. This report also offers insight into specific types of consumer spending: when housing starts are up, demand for the stuff that a consumer would purchase for a new home (large appliances, consumer electronics, furniture, etc.) tends to also rise -- and vice versa.

=================

 

 CHART: Housing Starts
+ Building Permits
+ Completions
June 2022 Update

 

=================

• Click here to view the full Commerce Department report (PDF)

================

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New Home Sales During May 2022

The May 2022 New Home Sales report was released by the Commerce Department this morning:

------------------------------------------------------

Predicted: 600,000

• Actual New Home Sales: 696,000

------------------------------------------------------

• Change from One Month Previous: +67,000 units (+10.652%)
  
  
• Change from One Year Previous: -44,000 units (-5.95%)

------------------------------------------------------

Median Price for a New Home
during May 2022: $449,000 
 

***************************

Average Price for a New Home
during May 2022: $511,400

------------------------------------------------------

Inventory: 444,000 (7.7 months supply at current sales rate; seasonally‐adjusted estimate.)

------------------------------------------------------

================================

CHART: New Home Sales - May 2022 Update

================================

• Click Here for Historical Prices and a Price Chart.

================================

Compiled jointly by the U.S. Commerce Department and the U.S. Department of Housing and Urban Development, the yellow-highlighted figure above is the seasonally adjusted and annualized number of newly-built homes with committed buyers for the indicated month.

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

The New Home Sales report is watched by economists and investors because it offers insight into the state of the U.S. housing market, and also provides data that can be used to predict sales of large household furniture and appliances like refrigerators, air conditioners, microwave ovens, etc.


================================

• Click here to view the full Commerce Department report (PDF)
  
  

================================

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Existing Home Sales During May 2022

The Existing Home Sales report for May 2022 was released by The National Association of Realtors® (NAR®) this morning:

Predicted: 5,400,000
Actual: 5,410,000

•  Change from Previous Month: -3.39% (-190,000 homes)
  
  
•  Change from One Year Previous: -8.61% (-510,000 homes)

==========

Inventory: 1,160,000 (2.6 months supply; -4.1% year-on-year.)

==========

The yellow-highlighted, "actual" figure above represents the preliminary, seasonally adjusted annualized sales count of existing homes, co-ops and condominiums for the indicated month. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

------------------------------------------------------

• Median Price During May 2022: $407,600 (New Record-High)
  
  
• Price Change from One Year Previous: +14.82% (+$52,600)

------------------------------------------------------ 

==========

• Click here for historical prices and a chart.

==========

From Today's Report:

"...'Home sales have essentially returned to the levels seen in 2019 – prior to the pandemic – after two years of gangbuster performance,' said NAR Chief Economist Lawrence Yun. 'Also, the market movements of single-family and condominium sales are nearly equal, possibly implying that the preference towards suburban living over city life that had been present over the past two years is fading with a return to pre-pandemic conditions.'

'Further sales declines should be expected in the upcoming months given housing affordability challenges from the sharp rise in mortgage rates this year,' Yun added. 'Nonetheless, homes priced appropriately are selling quickly and inventory levels still need to rise substantially -- almost doubling -- to cool home price appreciation and provide more options for home buyers.'


Properties typically remained on the market for 16 days in May, down from 17 days in April and 17 days in May 2021. Eighty-eight percent of homes sold in May 2022 were on the market for less than a month.

All-cash sales accounted for 25% of transactions in May, down from 26% in April and up from 23% recorded in May 2021.

Distressed sales -- foreclosures and short sales -- represented less than 1% of sales in May, essentially unchanged from April 2022 and May 2021.

Realtor.com®'s Market Trends Report(link is external) in May shows that the largest year-over-year median list price growth occurred in Miami (+45.9%), Nashville (+32.5%), and Orlando (+32.4%). Austin reported the highest growth in the share of homes that had their prices reduced compared to last year (+14.7 percentage points), followed by Las Vegas (+12.3 percentage points) and Phoenix (+11.6 percentage points)..."

==================

• Click here to view the NAR data.

==================

  

INFOGRAPHIC: Existing Home Sales
May 2022 UPDATE

==================

 

 

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Housing Starts During May 2022

The U.S. Commerce Department this morning released its Housing Starts report for May 2022:

---------------------------------------------------

Housing Starts:
Predicted: 1,600,000
Actual: 1,549,000

Change From Previous Month: -14.42% (-261,000 New Units)

• Change From One Year Previous: -3.49% (-56,000 New Units)

---------------------------------------------------

Building Permits:
Predicted: 1,700,000
Actual: 1,695,000

Change From Previous Month: -7.021% (-128,000 New Permits)

• Change From One Year Previous: +0.237%  (+4,000 New Permits)

----------------------------------------------------

Housing Starts: The top, yellow-highlighted figure is a measure of initial construction of single and multi-family residential units in the United States for the indicated month. Seasonally adjusted annual rate. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

If you're wondering about the demand for new homes in the United States, or about the American residential construction industry in general, then you should pay attention to the monthly Housing Starts report. This report also offers insight into specific types of consumer spending: when housing starts are up, demand for the stuff that a consumer would purchase for a new home (large appliances, consumer electronics, furniture, etc.) tends to also rise -- and vice versa.

=================

 

CHART: Housing Starts
+ Building Permits
+ Completions
May 2022 Update

=================

• Click here to view the full Commerce Department report (PDF)

================

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New Home Sales During April 2022

The April 2022 New Home Sales report was released by the Commerce Department this morning:

------------------------------------------------------

Predicted: 650,000

• Actual New Home Sales: 591,000

------------------------------------------------------

• Change from One Month Previous: -118,000 units (-16.643%)
  
  
• Change from One Year Previous: -218,000 units (-26.947%)

------------------------------------------------------

Median Price for a New Home
during April 2022: $450,600 (New Record High)
 

***************************

Average Price for a New Home
during April 2022: $570,300 (New Record High)

------------------------------------------------------

Inventory: 444,000 (9.0 months supply at current sales rate; seasonally‐adjusted estimate.)

------------------------------------------------------

================================

CHART: New Home Sales - April 2022 Update

================================

• Click Here for Historical Prices and a Price Chart.

================================

Compiled jointly by the U.S. Commerce Department and the U.S. Department of Housing and Urban Development, the yellow-highlighted figure above is the seasonally adjusted and annualized number of newly-built homes with committed buyers for the indicated month.

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

The New Home Sales report is watched by economists and investors because it offers insight into the state of the U.S. housing market, and also provides data that can be used to predict sales of large household furniture and appliances like refrigerators, air conditioners, microwave ovens, etc.


================================

• Click here to view the full Commerce Department report (PDF)
  
  

================================

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Existing Home Sales During April 2022

The Existing Home Sales report for April 2022 was released by The National Association of Realtors® (NAR®) this morning:

Predicted: 5,600,000
Actual: 5,610,000

•  Change from Previous Month: -2.435% (-140,000 homes)
  
  
•  Change from One Year Previous: -5.872% (-350,000 homes)

==========

Inventory: 1,030,000 (2.2 months supply; -4.3% year-on-year.)

==========

The yellow-highlighted, "actual" figure above represents the preliminary, seasonally adjusted annualized sales count of existing homes, co-ops and condominiums for the indicated month. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

------------------------------------------------------

Median Price for A Used Home During April 2022: $391,200

Change from One Year Previous: +14.822% (+$50,500)

---------

Average Price for A Used Home During April 2022: $397,600

Change from One Year Previous: +9.2% (+$33,500)

------------------------------------------------------ 

==========

• Click here for historical prices and a chart.

==========

From Today's Report:

"...Higher home prices and sharply higher mortgage rates have reduced buyer activity,' said Lawrence Yun, NAR's chief economist. 'It looks like more declines are imminent in the upcoming months, and we'll likely return to the pre-pandemic home sales activity after the remarkable surge over the past two years.'

'Housing supply has started to improve, albeit at an extremely sluggish pace,' said Yun.

He also noted the rare state of the current marketplace.

'The market is quite unusual as sales are coming down, but listed homes are still selling swiftly, and home prices are much higher than a year ago,' said Yun.

'Moreover, an increasing number of buyers with short tenure expectations could opt for 5-year adjustable-rate mortgages , thereby assuring fixed payments over five years because of the rate reset,' he added. 'The cash buyers, not impacted by mortgage rate changes, remain elevated.'

Properties typically remained on the market for 17 days in April, equal to both the number of days in March 2022 and in April 2021. Eighty-eight percent of homes sold in April 2022 were on the market for less than a month.

First-time buyers were responsible for 28% of sales in April, down from 30% in March and from 31% in April 2021.

All-cash sales accounted for 26% of transactions in April, down from 28% in March and up from the 25% recorded in April 2021.

Distressed sales -- foreclosures and short sales -- represented less than 1% of sales in April, equal to the percentage seen in March and down from 2% in April 2021.

According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage was 4.98% in April, up from 4.17% in March. The average commitment rate across all of 2021 was 2.96%.

Realtor.com®'s Market Trends Report in April shows that the largest year-over-year median list price growth occurred in Miami (+38.3%), Las Vegas (+32.6%), and Orlando (+30.7%). Austin reported the highest growth in the share of homes that had their prices reduced compared to last year (+6.8 percentage points), followed by Las Vegas (+5.3 percentage points) and Sacramento (+4.7 percentage points)..."

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• Click here to view the NAR data.

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INFOGRAPHIC: Existing Home Sales
During April 2022

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