- Prior was +1.4%
- Prices up 1.6% m/m
- Prices -12.3% y/y
- Inventory of homes for sale up 1.6% but remains near a 20-year low
There was a huge seasonal adjustment at work in this data set in April because sales were up 11.3% but non-seasonally activity was down 19.5%.
“Over the last few months, there have been signs that housing markets were going to heat back up this year, so it wasn’t a surprise to see things take off after the Easter weekend, which often serves as the opener to the spring market,” said Larry Cerqua, CREA’s 2023-2024 Chair. “The issue going forward is not new: demand is once again returning at a scale that is outpacing supply."
