Miami Real Estate

Search Miami MLS

Miami real estate - most expensive homes
Miami's Most Expensive
Homes For Sale

Miami condos for sale
Luxury Miami Condos
For Sale

Miami homes for sale
Miami Homes For Sale
2 to 7 million USD

Miami real estate - 1 to 2 million usd
Miami Homes For Sale
1 to 2 million USD

Miami Beach real estate - Star Island homes for sale in Miami Beach Florida
Star Island Homes
For Sale

Miami Beach real estate - Indian Creek homes for sale in Miami Beach Florida
Indian Creek Homes
For Sale

Fisher Island homes and condos for sale in Miami Beach Florida
Fisher Island Condos
For Sale

Gables Estates Homes For Sale in Florida
Gables Estates Homes
For Sale

Miami Homes For Rent in Florida
Luxury Homes
For Rent

Aventura Condos - Homes For Sale in Aventura Florida
Aventura Condos
For Sale

Real Estate Specialist

Miami Real Estate Blog
Follow Me On Twitter
Alex Shay in Miami

Miami Communities

Miami Beach
Bal Harbour
Coral Gables
Fisher Island
Fort Lauderdale
Indian Creek
Key Biscayne
La Gorce Island
North Bay Village
Palm Island
South Beach
Star Island
Sunny Isles Beach
Sunset Islands
Venetian Islands

Miami Condos

Acqualina Condos
Apogee Condos

Bath Club Condos

Blue Diamond Condos
Continuum Condos
Fisher Island Condos
Four Seasons Hotel Condos
Green Diamond Condos
Icon South Beach Condos
Il Villaggio Condos
Jade Beach Condos
Jade Ocean Condos
Murano At Portofino Condos
Murano Grand Condos
Ocean III Condos
Ocean IV Condos
One Bal Harbour Condos
Portofino Tower Condos
Regalia Condos
Setai Condos
St. Regis Bal Harbour Condos

W Hotel Condos

For Buyers

Featured Homes
Featured Condos
Miami Beach Homes
Miami Beach Condos

Miami Beach MLS

For Sellers

Residential Marketing Plan
Sell Your Home Here

Miami Resources

Miami Webcam Live
Properties For Sale By City

Properties For Sale By Price
Properties For Sale Sitemap
Condos By Building Name



Existing-Home Sales Slip in April

RISMEDIA, May 26, 2006—Existing-home sales eased in April on the heels of a two-month rebound, according to the National Association of Realtors®.

Total existing-home sales – including single-family, townhomes, condominiums and co-ops – slipped 2.0 percent to a seasonally adjusted annual rate1 of 6.76 million units in April from a downwardly revised level of 6.90 million in March, and were 5.7 percent below the 7.17 million-unit pace in April 2005.

David Lereah, NAR’s chief economist, said the decline was expected. “Our leading indicator for pending home sales was trending lower, and our forecast model is showing a modest decline for the second quarter with sales leveling out before rising in the fourth quarter,” he said. “Higher interest rates are slowing home sales, but we see this as another sign of a soft landing for the housing sector which remains at historically high levels.”

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage was 6.51 percent in April, up from 6.32 percent in March; the rate was 5.86 percent in April 2005.

The national median existing-home price2 for all housing types was $223,000 in April, up 4.2 percent from April 2005 when the median was $214,000. The median is a typical market price where half of the homes sold for more and half sold for less.

NAR President Thomas M. Stevens from Vienna, Va., said the big run up in home prices is over. “After five years of booming sales, we are now experiencing normal market conditions across most of the country,” said Stevens, senior vice president of NRT Inc. “Inventories levels have come up to balanced levels between home buyers and sellers, so the pressure has come off of home prices and most owners can expect steadier gains in home values for the foreseeable future.”

Total housing inventory levels rose 5.8 percent at the end of April to 3.38 million existing homes available for sale, which represents a 6.0-month supply at the current sales pace.

Single-family home sales dipped 2.0 percent to a seasonally adjusted annual rate of 5.92 million in April from 6.04 million in March, and were 5.6 percent below the 6.27 million-unit pace in April 2005. The median existing single-family home price was $222,700 in April, up 4.3 percent from a year ago.

Existing condominium and cooperative housing sales declined 2.7 percent to a seasonally adjusted annual rate of 839,000 units in April from an upwardly revised pace of 862,000 in March, and were 6.3 percent below the 895,000-unit pace in April 2005. The median existing condo price3 was $222,000 in March, down 0.2 percent from a year ago.

Regionally, existing-home sales in the Northeast slipped 0.8 percent to an annual sales rate of 1.18 million units in April, and were 2.5 percent below a year ago. The median price in the Northeast was $283,000, up 5.6 percent from April 2005.
Existing-home sales in the West declined 1.4 percent to an annual pace of 1.41 million in April, and were 13.0 percent below April 2005. The median price in the West was $348,000, up 4.8 percent from a year ago.

In the South, existing-home sales eased by 1.9 percent in April to a level of 2.61 million, and were 3.7 percent lower than a year ago. The median price in the South was $180,000, up 3.4 percent from April 2005.

Existing-home sales in the Midwest fell 3.7 percent to a pace of 1.57 million in April, and were 3.1 percent below April 2005. The median existing-home price in the Midwest was $166,000, down 1.2 percent from a year earlier.

see real estate articles
see newswires

All Featured Homes
Miami Beach Homes
Miami Homes
Key Biscayne Homes
Coral Gables Homes
Bal Harbour Homes
Aventura Homes
Indian Creek Homes
Golden Beach Homes

Back to top

featured homes and condos in Miami, Miami Beach, and surrounding Florida communities - click here

Search Miami MLS


All Featured Condos
Miami Beach Condos
Miami Condos
Key Biscayne Condos
Coral Gables Condos
Bal Harbour Condos
Aventura Condos
South Beach Condos
Featured Homes Condos

Site Map | Sitemap 1 - Homes For Sale | Home Page | Email Alex Shay
Disclaimer Copyright © All Rights Reserved