Existing-Home Sales Decline 2.7% in April
iCrowd Newswire
Key Highlights
Year-to-date – months January to April – sales are still up 20%.
The median existing-home sales price rose to 19.1% year-over-year to $341,600, both record highs.
Existing-home sales waned in April, marking three straight months of declines, according to the National Association of Realtors®. All but one of the four major U.S. regions witnessed month-over-month drops in home sales, but each registered double-digit year-over-year gains for April.
Total
existing-home sales,1 completed transactions that include single-family homes, townhomes, condominiums and co-ops, slipped 2.7% from March to a seasonally-adjusted annual rate of 5.85 million in April. Sales overall jumped year-over-year, up 33.9% from a year ago (4.37 million in April 2020).
Shanghai base metals traded mixed on Friday morning as markets reacted to the US Federal Reserve s decision to hold interest rates near zero and digested a fresh round of corporate earnings.
SHANGHAI, Apr 30 (SMM) Shanghai base metals traded mixed on Friday morning as markets reacted to the US Federal Reserve s decision to hold interest rates near zero and digested a fresh round of corporate earnings. Meanwhile, their counterparts on the LME also set for a mixed start.
Shanghai base metals closed mixed in overnight trading. Nickel slid 0.61%, zinc declined 1.55% and copper weakened 0.58%, while aluminium climbed 0.69%, tin rose 0.22% and lead increased 0.07%.
March 2021 Headline Pending Home Sales Improve
The National Association of Realtors (NAR) seasonally adjusted pending home sales index improved. Our analysis shows significant growth this month.
Analyst Opinion of Pending Home Sales
So far, the recovery is well beyond my expectations of a lackluster recovery. It is almost like the pandemic never happened for home sales. However, the inventory remains too low to support much of an acceleration of growth.
Pending home sales are based on contract signings, and existing home sales are based on the execution of the contract (contract closing).
The NAR reported:
The market [from Econoday] was expecting month-over-month
Pending Home Sales Rise Less Than Expected as Inventory Remains Ultra Tight Apr 29 2021, 9:55AM
While the degree to which is
happened was somewhat disappointing,
pending home sales did snap out of a
two-month slump in March. The National Association of Realtors ® (NAR s) Pending
Home Sales Index (PHSI) rose 1.9 percent to 111.3 in March and is now up 23.3
percent compared to March 2020. However, NAR points out that the annual
increase was largely due to the country-wide pandemic related shutdown a year
ago.
The PHSI, which is based on
contracts signed to purchase existing homes, had fallen 10.6 percent in
February on top of a 2.8 percent loss the previous month. Analysts polled by