Single-Family Resales Climb in April, Prices Headed Up

Single-Family Resales Climb in April, Prices Headed Up

Sales of existing single-family homes increased in April when compared to sales in April one year ago. There were 291 single-family home resales in April. That is a 13.6% increase over the 256 homes sold in April, 2015.

The latest numbers contributed to an increase in the annual rate of resales which came in at 2,927. This is a 1.2% increase over the annual rate reported last month and an 11.0% increase when compared to the annual rate reported one year ago.

Comparing the first four months of this year with January thru April of last year, reports show 826 single-family resales in 2015 and 907 family resales in 2016. This is a 10% increase.

As the chart below shows, the annual rate of resales has increased over the last 12-months from 2,674 to 2,927.

Click on image to enlarge.

The April report indicates that 12-month average single-family resale prices remain basically flat over the last three months. However, a look at the 3-month average shows that sale prices are rebounding from a downturn that began in June, 2015 and ended in January of this year.

Click on image to enlarge.RESPRICESAPRIL2016


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