RE/MAX: SPIKE IN NEW LISTINGS DRIVE UP APRIL HOME SALES
Home sales during April were up 11.2% from March and up 9% from one year earlier, according to new data from RE/MAX (NYSE:RMAX). The new data reverses the trend of the last two years when April recorded year-over-year sales declines – an 11.2% drop in 2022 and a 29.5% plummet in 2023.
RE/MAX credited the sales upswing to wider selection of new listings – a 6.3% jump from March and an 18.2% spike from one year earlier. As a result, the number of homes for sale grew by 6.3% from the previous month and by a robust 28.8% from the previous year.
The median sale price increased 2.9% over March to $437,000, which is the highest price in over two years. None of the 50 metros tracked by RE/MAX recorded a year-over-year decrease in median sales price.
“We’ve started the busy homebuying season on a very good note,” said Amy Lessinger, RE/MAX president. “Gains in home sales, new listings and the number of homes for sale are all signs of a more active, rebalancing market. This has happened without a significant drop in interest rates – suggesting that buyers and sellers may be less apt to delay their plans this year. More sellers have come into the market – and they’re finding buyers who are ready to go.”