U.S. Real Estate Market

SOURCE www.breitbart.com
Sales of previously owned homes in the U.S. fell by 1.9% in April, with prices hitting a record high for the month. Despite the drop in sales, there was a significant rise in home prices, especially for properties priced at $1 million or more.

Key Points

  • Home sales fell by 1.9% in April
  • Median home prices surged by 5.7%
  • Number of homes on the market rose by nine percent
  • Properties priced at $1 million or more saw a 40% increase in sales

Pros

  • Record high home prices benefit current homeowners
  • Increase in housing inventory may lead to better affordability in the future

Cons

  • Decrease in home sales indicates a challenging market for buyers
  • Rising prices make it harder for buyers to afford homes