Existing Home Sales Fall Short of Expectations

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Posted To: MND NewsWire

Existing home sales in April failed both to match their corresponding numbers in March and to live up to the consensus of analysts in advance of this morning's National Association of Realtors® (NAR) report. Sales of existing single family homes, condominiums, and coops were at a seasonally adjusted annual rate of 5.04 million units in April, down 3.3 percent from an upwardly revised (from 5.19 million units) 5.21 million in March. Analysts had expected on average a rate of 5.22 million units. NAR tried to put a cheery spin on the news pointing out that sales were 6.1 percent higher than in April 2014, that it was the seventh month of year-over-year increases, and the second month in a row that sales had topped 5 million. The typical home also sold in the shortest time frame in almost two...(read more)

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Source: http://www.mortgagenewsdaily.com/05212015_existing_homes.asp

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