Although existing-home sales have risen in six of the past nine months, sales in April were virtually unchanged from the month before. According to The National Association of Realtors, existing-home sales eased 0.8 percent to a seasonally adjusted annual rate of 5.05 million in April. Lawrence Yun, NAR’s chief economist, said sales are expected to trend up this year, due to great affordability conditions, job creation, and pent-up demand, but cautioned that the gains will be uneven. The national median existing-home price was $163,000 in April. Despite month-to-month volatility, home values have been remarkably stable in the range of $160,000 to $170,000, according to Yun. More here.
