May 27: Existing Home Sales up 2.9%

Existing Home Sales in April rose by 2.9% to a 4.68 million annual pace, following a revised 4.55 million pace reported in March, originally reported at 4.57.  Existing Home Sales were pegged at 4.85 million in April of 2008, showing a 3.5% decline over the year.  The national median existing-home price for all housing types was $170,200 in April, down from the $175,000 median in March, which is 15.4% below 2008.  Regionally, existing-home sales in the Northeast increased by 11.6% to an annual pace of 770,000 in April, with a median price of $237,400.  Sales in Midwest fell by 2.0% to 1.00 million with a median price of $138,800.  In the South, existing-home sales increased by 1.8% to an annual pace of 1.74 million with a median price of $148,000. Existing-home sales in the West also showed an improvement, by 3.5%, to an annual rate of 1.17 million with a median sales price of $222,600.

"Most of the sales are taking place in lower price ranges and activity is beginning to pick up in the midprice ranges, but high-end home sales remain sluggish," said the Chief Economist of the NAR. "The Federal Reserve needs to help restore liquidity for the jumbo mortgage market by buying these loans under the TALF program."

Upcoming Releases
Durable Orders (05/28 at 8:30 AM EST)
Initial Claims (05/28 at 8:30 AM EST)
New Home Sales (05/28 at 10:00 AM EST)
GDP-Preliminary (05/29 at 8:30 AM EST)

Email	Print	Share	RSS	Rate Pos	Rate Neg	Comment

Loading Stories...

ECONOMIC HIGHLIGHTS ARCHIVE

Feb 9: Wholesale Inventories - Wholesale Inventories today at 10:00 AM EST

on February 9, 2010

Feb 5: Unemployment Down to 9.7% - Unemployment Rate decreases to 9.7%; Nonfarm Payrolls unchanged; Consumer Credit today at 3:00 PM EST

on February 5, 2010

Feb 4: Nonfarm Productivity Up - Weekly Initial Claims increase to 480,000; 4-week moving average increased; Nonfarm Productivity up 6.2% in the 4th quarter; Unit Labor Costs down 4.4% in the 3rd quarter; Factory Orders today at 10:00 AM EST

on February 4, 2010

Feb 3: ISM Services Up - ISM Services Index increased to 50.5; Crude Inventories today at 10:30 AM EST

on February 3, 2010

Feb 1: ISM Index at 6 Year High - Personal Income, Disposable Personal Income up 0.4%; Construction Spending down 1.2%; ISM Manufacturing Index at highest level since August 2004

on February 1, 2010

<< Previous 5 Stories

View All

Next 5 Stories>>

 Posting Comment...

There was a problem posting this this comment. Please try back later.
[CLICK TO CLOSE X]

Comments (Limit 1000 Characters - Used: 0)

Please provide your comments here... Display Name: Email Address:  

 Loading Comments...

Be the first to comment on this article!