New and Existing home sales in April show the market is heating back up!
Recent reports released earlier this month by the U.S. Census Bureau and the National Association of Realtors, indicate sales of new homes rose last month by 6.4 percent. Sales of existing homes rose as well by 1.3 percent. Though sales are below last years mark, those who are looking to sell should be encouraged knowing that the winter downswing has ended.
The Census Bureau also reported the average price for a new home sold last month was $275,800. The median price for an existing home last month was not far behind at $201,700.
Mortgage rates are showing a downtrend, but they’re still higher than a year ago. The average 30-year fixed-rate mortgage was 4.14 percent, while last year, the rate was averaging at 3.59 percent.
Together, reports for April’s activity show buyers are becoming more and more comfortable despite the small increase of mortgage rates because the U.S. economy is improving and homes are still relatively affordable.
For more details or for assistance with your real estate needs contact The Wilson Realty Group in Raleigh by phone: (919) 378-1974 or by email: Info@WilsonRealtyGroupNC.com