US Homes Sales Register a Surprising Decline in April 2019

Home sales in the US registered a surprising decline by 0.4% to 5.19 million units in April 2019, compared to 5.21 million units in March

home prices

According to data released by the National Association of Realtors on Tuesday, home sales in the US registered a surprising decline by 0.4% to 5.19 million units in April 2019, compared to 5.21 million units in March 2019.

Economists were expecting home sales to register a 2.7% growth to 5.35 million units during April. One of the main drivers for the decline is weakness in the lower-priced segment where there is a dire shortage of available properties. Sale of houses priced under $100,000 dropped by 10% YoY.

Existing home sales also dropped 4.4% YoY in April 2019 for the 14th consecutive time even though there were more such homes put up for sale in the market – 1.83 million in April compared to 1.67 in March 2019.

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

Related Articles

Comments

0 0 votes
Article Rating
Subscribe
Notify of
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

HFM

Doo Prime

XM

Best Forex Brokers