Existing Home Sales

Existing Home Sales fell 0.4% in April. This was weaker than the 2.7% gain expected, but really not a bad report as the media would have you believe. Interestingly, homes remained on the market for only 24 days on average, which is down sharply from 36 days in March. 53% of homes sold in April were on the market for less than a month. If you priced your home correctly, it sold quickly. The entire reason for the decline was weaker sales in the Northeast...every other region was flat or higher. The weather, which was not the best during the time people would be shopping for homes closing in April in the NE was not the best, which could have contributed to the slight decline.