In addition to selling more existing-homes in April, real estate agents were also busy finalizing transactions for a significant number of new-homes last month, public property records show.
In a joint release, the U.S. Census Bureau and the Department of Housing and Urban Development announced sales of new single-family residential units was seen at a seasonally adjusted annual rate of 454,000 during the recent month. The latest figure represents a 2.3 percent uptick from March and a 30 percent improvement from year-ago numbers.
In addition, progress in the ongoing recovery of the national economy was seen in the appreciation of median and average home sale amount. The median price was recorded at $271,600, while the average sales price was logged at $330,800.
However, real estate agents may not be the only ones benefiting from the bolstering conditions. Lending companies may also be feeling a heightened sense of safety and soundness as mortgage rates again show increases.
Freddie Mac noted in its Primary Mortgage Market Survey for the week ending May 23 that popular fixed- and adjustable-rate mortgage products exhibited considerable rises in the last week. Trending higher for the third consecutive week, the rate increases may point toward additional strengthening in the near future.