AZRE | AZBigMedia
Fewer sellers, fewer buyers: The first full month of coronavirus stay-at-home orders weighed on April home sales, causing them to drop an average of 20.2% compared to a year ago. Inventory in the report’s 53 markets similarly tumbled by 20.5% year-over-year, while the Median Sale Price of $276,000 was up 9.3%.
Here’s what you need to know about RE/MAX’s National Housing Report for April 2020:
• Nationally, home sales dropped an average of 20.2% year-over-year during the first full month of stay-at-home orders. In Phoenix, sales dropped 26.9%.
• Inventory in the report’s 53 markets tumbled by 20.5% year-over-year. Phoenix inventory dropped as well, by 25.1%.
• At $276,000, the median sales price was up 9.3% nationally. In Phoenix the median sales price rose 11.1% to reach $300,000.
