U.S. existing-home sales dipped 0.5% month-over-month and 2.0% year-overyear to a seasonally adjusted annual rate of 4.00 million units, according to the National Association of REALTORS® (NAR). Sales increased in the Midwest, decreased in the West and Northeast, and were unchanged in the South. Yearover-year, sales were down in every region except the Northeast.
- Single Family Closed Sales were down 2.2 percent to 1,481.
- Townhouse-Condo Closed Sales were down 10.4 percent to 362.
- Adult Communities Closed Sales were down 27.9 percent to 49.
- Single Family Median Sales Price increased 5.2 percent to $666,000.
- Townhouse-Condo Median Sales Price increased 3.2 percent to $430,000.
- Adult Communities Median Sales Price decreased 8.1 percent to $506,000.
There were 1.45 million units actively for sale heading into May, a 9.0% increase from the previous month and a 20.8% improvement from the same time last year, for a 4.4-month supply at the current sales pace, according to NAR. The median existing-home price edged up 1.8% year-over-year to $414,000 as of last measure, the 22nd consecutive month of annual price increases and a new record high for the month.
NCJAR Total Market Overview
Morris County
Somerset County
Union County
Essex County
Passaic County
