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May 23, 2008 - Forex Economic News
US Existing Home Sales decrease in April.
U.S. Existing Homes sales fell for the month of April but surpassed economic forecasts according to the monthly report produced by the National Association of Realtors. The NAR report showed that existing-home sales including single family homes, co-ops and townhouses decreased 1.0 percent in April to a seasonally adjusted annual rate of 4.89 million units. March's sales totals were revised upwards to a decrease of 1.8 percent to an annual rate of 4.89 million units for the month. April's sales pace beat market forecasts which had predicted sales data would decline by 1.6 percent for the month. The median sales price for existing homes in April was $202,300. This is down 8.0 percent from April 2007 which produced a median price of $219,900. April's total housing inventory increased by 10.5 percent to a total of 4.55 million homes for sale.
Tags: existing home sales, housing, nar, single family homes
