Steel Markets
May 21, 2020
April Existing-Home Sales Lowest in 10 Years
Written by Sandy Williams
Existing-home sales slid almost 18 percent in April, according to the National Association of Realtors. Sales fell 17.8 percent month-over-month and 17.2 percent from a year ago to a seasonally adjusted annual rate of 4.33 million units. Sales were at the lowest level and worst month-over-month decline since July 2010.
“The economic lockdowns – occurring from mid-March through April in most states – have temporarily disrupted home sales,” said NAR Chief Economist Lawrence Yun. “But the listings that are on the market are still attracting buyers and boosting home prices.”
