Sales Statistics

National Association of Realtors statistics show that the sales of existing homes dropped by another 2.6%, the slowest in four years. The supply of existing homes increases by 394,000 in April, for a total of 4.2 million units on the market nationally. New construction saw a sales unit increase of 16.2%, although the median price of new homes was down 11.1%. Builders have cut prices to sell sitting inventory, thus the increase in volume, but decrease in price.