With new home sales data out this morning for April, we're currently running 16,000 home sales (non-seasonally adjusted) above the April 2013 rate keeping us on track for the best year in home sales since 2007.
With the spring homebuying season in full swing, the lack of inventory is dampening sales activity in some markets, which was evident with existing home sales data this month. Existing-home sales declined 3.3 percent from the previous month to a seasonally adjusted annual rate of 5.04 million in April. Though March existing home sales were strong, and revised even higher to a 5.21 million annual pace. New home sales rebounded last month, up 6.8% to a seasonally adjusted annual rate of 517,000 units.
Currently existing home sales are slightly down 0.7%, and new home sales are up 17% compared to 2013 through April on a non-seasonally adjusted basis.
Explore more below to see how new and existing home sales compare by month going back to 1999.
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