Shelter Six:  Home Prices Jump 19% Over Last Year

April Existing Home Sales fell unexpectedly 3% from March, but were 34% higher than a year ago and 11% higher than April 2019.

The Median Existing-Home Price jumped 19% from last year to a record level of $341,600.

The number of homes for sale was 21% lower than a year ago and represents just a 2.4-month supply nationally.

April Housing Starts fell 10% from March, but March Housing Starts were at the strongest level since 2006 and April starts were 67% higher than a year ago.

April Building Permits were up slightly from March and 61% higher than a year ago.

The National Assoc of Home Builders reports that builder confidence was unchanged in May from April and still near all-time high level.

Rate Update

Mortgage rates were flat last week, and Mortgage News Daily’s Conforming 30-Year Fixed-Rate starts the week off at 3.16%.

This Week

New Home Sales will be released on Tuesday, Pending Home Sales on Thursday, and the Core PCE Price Index on Friday.

May 24, 2021 by · Leave a Comment

About James

James A. Williamson is currently the Sr VP of Sales Development for Shelter Lending Services (formerly Fairfield Mortgage). James joined Shelter in 1994 and was the company's top Loan Officer in GA for 20 straight years helping over 2500 families finance their homes. James now oversees an incredible group of Loan Officers in Atlanta while further building Shelter's Atlanta business.

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