U.S. existing-home sales fell 3.6% month-over-month and 1.0% year-over-year to a seasonally adjusted annual rate of 3.98 million, according to the National Association of REALTORS® (NAR), as tight supply and ongoing affordability challenges constrained activity. Sales declined month-over-month in all four regions. Year-over-year, sales increased in the South and West but fell in the Midwest and Northeast.
- Single Family Closed Sales were down 11.7 percent to 1,076.
- Townhouse-Condo Closed Sales were up 0.3 percent to 355.
- Adult Communities Closed Sales were up 16.7 percent to 49.
- Single Family Median Sales Price increased 2.4 percent to $671,000.
- Townhouse-Condo Median Sales Price increased 4.5 percent to $460,000.
- Adult Communities Median Sales Price increased 4.3 percent to $521,000.
Nationally, the median existing-home price rose 1.4% from a year earlier to $408,800, marking the 33rd consecutive month of year-over-year price increases as limited inventory continued to put upward pressure on prices, NAR said. There were 1.36 million homes for sale heading into April, up 2.3% from a year earlier, representing a 4.1-month supply at the current sales pace.
NCJAR Total Market Overview
Morris County
Somerset County
Union County
Essex County
Passaic County
