Existing-Home Sales Prices Increased 3.4%

According to the National Association of Realtors, existing-home sales have increased in the month of April, and home prices are continuing to climb. These sales rose 3.4% compared to March throughout the country. This is a good indication that the housing market is finally recovering. It is not just the investors who are buying these homes anymore, we are seeing an increase in homes being sold to actual occupants again. This is helping home sales of all prices, causing the market to become more balanced. Housing inventory rose 9.5% at the end of April, totaling out at 2.54 million existing homes that are for sale. The national median price for an existing home is $177,400, which is up 10.1% from last April. It is expected that 2013 will bring further increase in sale prices.

Posted in: economic recovery,existing home sales,home prices,housing market,inventory,National Association of Realtors