April saw improving home sales boosted by the homebuyer tax credit, attractive home prices and increasing consumer confidence. Existing home sales increased 7.6% in April, up 22.8% from April 2009, according to the National Association of Realtors.
The NAR expects to see a temporary decline in the home sale numbers in the coming months because of the end of the tax credit program at the end of April. Many Agents are reporting continuing heavy activity in the market because of improved market conditions. Much of this activity is expected to last beyond the tax credit.
The inventory of existing homes for sale rose 11.5% in April. Some analysts viewed this upward trend in the inventory as a worrisome blip in an otherwise rosy picture.
Distressed sales represented 33% of the market, down from 35% in March. The median price of an existing home was $173,100, up 4% from April 2009.
Let’s continue this discussion below in the comments sections. Do the numbers above confirm what YOU have been seeing in your market?
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Well this sounds like pretty good news for the market!
Things are still fairly slow here in Florida, but I’ll take all the good news I can get