Inventory in April rose 9% month to month and was up 16% from the year before, but still just a 3.5-month supply at the current sales pace.
Homes in the Issaquah Highlands area of Issaquah, Washington, US, on Tuesday, April 16, 2024.Sales of previously owned homes fell 1.9% in April from March to 4.14 million units, on a seasonally adjusted annualized basis, according to the National Association of Realtors. The forecast had been for a slight gain.These sales are based on closings, so contracts likely signed in February and March.
Sales of homes priced below $100,000 fell 7.1% year over year, while sales of those priced over $1 million jumped 40%. First-time buyers made a slight comeback, making up 33% of April sales, up from 29% the year before. The all-cash share was still relatively high, at 28% of all transactions.
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