April home sales dropped to the slowest pace for that month since 2009

[Zincwarrior]

We need to go back to building small homes not McMansions. in the primary job markets, there's almost no such thing as a "starter home" now.

https://www.cnbc.com/2025/05/22/april-home-sales-real-estate.html

• Home sales in April dropped, as consumers faced high home prices and growing concern over the economy and employment.
• “Home sales have been at 75% of normal or pre-pandemic activity for the past three years, even with seven million jobs added to the economy,” said Lawrence Yun, NAR’s chief economist.
• The median price of an existing home sold in April was $414,000, an increase of just 1.8% year-over-year.

The spring housing market continues to struggle amid high interest rates and low consumer confidence.

Sales of previously owned homes in April fell 0.5% from March to a seasonally adjusted, annualized rate of 4 million units, according to the National Association of Realtors. That is the slowest April pace since 2009.




Sales were down 2% from April of last year. Housing economists were expecting a gain of 2.7%.

This count is based on closings, meaning contracts that were likely signed in February and March, before mortgage rates moved higher in April.

“Home sales have been at 75% of normal or pre-pandemic activity for the past three years, even with seven million jobs added to the economy,” said Lawrence Yun, NAR’s chief economist in a release. “Pent-up housing demand continues to grow, though not realized. Any meaningful decline in mortgage rates will help release this demand.”

Inventory jumped 9% month to month and was nearly 21% higher than April of last year. There were 1.45 million homes for sale at the end of April, which at the current sales pace represents a 4.4-month supply. That is the highest level in five years, but still below the six-month supply which is considered a balanced market. One year ago, there was a 3.5-month supply.

More supply is starting to cool prices. The median price of an existing home sold in April was $414,000, an increase of just 1.8% year-over-year. That is the highest April price on record, but the slowest appreciation since July 2023. Annual price gains had been much higher last year. Both the South and West regions saw prices fall.

 

[80zephyr]

We need to go back to building small homes not McMansions. in the primary job markets, there's almost no such thing as a "starter home" now.

https://www.cnbc.com/2025/05/22/april-home-sales-real-estate.html

When I first started building homes in the 1970's, the average home was 12 to 15 hundred square feet.

Nobody wants that anymore, but everybody complains about being priced out of the housing market.

 

[OhPleaseJustQuit]

When I first started building homes in the 1970's, the average home was 12 to 15 hundred square feet.

Nobody wants that anymore, but everybody complains about being priced out of the housing market.

.

When hubby and I were house hunting, we saw bathrooms that you could ride a bike in!


.

 

[iamwhatiseem]

We need to go back to building small homes not McMansions. in the primary job markets, there's almost no such thing as a "starter home" now.

https://www.cnbc.com/2025/05/22/april-home-sales-real-estate.html

It is more than just that, it is that, but also because of the bank bailouts where the ultra profitable investment banks were bailed out by Bush/Obama while millions lost their homes - with most of those homes being purchased by corporations at wholesale prices for even MORE profit to the investment banks - now there are less homes on the market.
Thank primarily Obama

 

[BasicHumanUnit]

We need to go back to building small homes not McMansions. in the primary job markets, there's almost no such thing as a "starter home" now.

https://www.cnbc.com/2025/05/22/april-home-sales-real-estate.html

BS...

I just sold my home in about 2 weeks on the market and got full asking price. STOP the propaganda!

 

[iamwhatiseem]

BS...

I just sold my home in about 2 weeks on the market and got full asking price. STOP the propaganda!

Not BS at all.. obviously you sold your house quick.
The problem is supply, not demand.
Everyone is selling their house fast, but not enough people are selling homes.

 

[Nuthin' Fancy]

When I first started building homes in the 1970's, the average home was 12 to 15 hundred square feet.

Nobody wants that anymore, but everybody complains about being priced out of the housing market.

BS.
It's just like everything else.
GREED.

Get the most $$$ per acre or portion of land, no matter what.
In order to get a single family home, the way you want is to buy property and build it yourself.
Other than that, you move to an apartment building.

Starter homes are a thing of the past, literally.
Remodeling a house you may have grown up in.

 

[leftwinger]

Stolen 2020 inflation from man-made Virus lancg, shutdown blue GOV states still has consequences. But eh, they stole billions 2021-2024. You should be happy for DEM deep statist.

 

[80zephyr]

BS.
It's just like everything else.
GREED.

Get the most $$$ per acre or portion of land, no matter what.
In order to get a single family home, the way you want is to buy property and build it yourself.
Other than that, you move to an apartment building.

Starter homes are a thing of the past, literally.
Remodeling a house you may have grown up in.

Greed inflated the size of these houses? How does that work exactly?

 

[1srelluc]

A .25 acre town lot in my town is now near 100K.

Even if you built the same brick 3 br- 2 bath 1100 sq ft rambler on a crawlspace I started off with you are looking at $225K+.

Even a prefab by the time it was delvered/set-up and any extras.

 

[evenflow1969]

We need to go back to building small homes not McMansions. in the primary job markets, there's almost no such thing as a "starter home" now.

https://www.cnbc.com/2025/05/22/april-home-sales-real-estate.html

The problem with building is that my generation is about to freaking die. When that happens there will be more than 11 million homes with no one to buy them.

 

[80zephyr]

The problem with building is that my generation is about to freaking die. When that happens there will be more than 11 million homes with no one to buy them.

A saturated market will cause home prices to collapse. People will be able to afford to buy them

 

[1srelluc]

A saturated market will cause home prices to collapse. People will be able to afford to buy them

A guy but six higher end townhoues down the street for my mom's old place.....425K a pop and all are sold. They were sold even before being completed about two months ago.

I rode by there early one morning last week and every vehicle there had Catholic stickers on them....It must be true that my AO is becoming a catholic destination. Half still had out of state tags too.

It must be a "thing" for Catholics to tag themselves as I see it all the time now in my AO.

 

[evenflow1969]

A saturated market will cause home prices to collapse. People will be able to afford to buy them

Yep, they will at that time. It will still be a few years. Ya still have to question if you want to add to that 11 million homes sitting empty by adding even more to them. I am told it is currently around 200 dollars per square foot to build right now. We are starting to see 1000 square foot homes being built in my market now. That is not exactly a Mansion.