National News: Week Ahead May 21, 2021
Check Out NAR’s New Member Profile
Members cited a lack of inventory as the leading reason clients haven’t completed transactions, according to NAR’s just-released 2021 Member Profile. However, despite the global pandemic, 2020 saw the highest number of homes sold since 2006, and NAR's membership increased. NAR Membership Hits Record Highs >> Existing-Home Sales Decline 2.7% in April All but one of the four major U.S. regions witnessed month-over-month drops in home sales, but each registered double-digit year-over-year gains for April.
Existing-home sales are down 2.7% to 5.85 million, the third straight month of decline.
Year-to-date – months January to April – sales are still up 20%.
The median existing-home sales price rose to 19.1% year-over-year to $341,600, both record highs.