Forty-three of the 53 metro areas tracked by RE/MAX either recorded a decrease in year-over-year sales or remained unchanged. Among the 10 markets saw an increase in sales, the most prominent included Delaware’s Wilmington/Dover metro area (a 13.8 percent increase) and Fargo, N.D. (up 5.7 percent).
But while sales volume was done, the $226,000 national median sales price was up 0.44 percent from March and up 5.2 percent from April 2016. Only four metro areas saw year-over-year price decreases, with 10 experiencing double-digit percentages.
The average number of days on the market for homes sold in April was 57, down seven days from the averages set in the previous month and the previous year. The number of homes for sale in April 2017 was down 1.3 percent from March and down 17.6 percent from April 2016.
“We may be seeing some frustration from buyers,” said Dave Liniger, RE/MAX CEO and chairman. “Inventory is tighter than ever, while strong demand keeps driving up home prices. At the same time, many potential sellers may also be reluctant to list their homes because the tight inventory might impact them as buyers. Homebuyers and sellers will need to work with experienced real estate agents to navigate this tough market.”