Blog - May 2022
WASHINGTON (May 19, 2022) – Existing-home sales recorded a third straight month of declines, slipping slightly in April, according to the National Association of Realtors®. Month-over-month sales were split amongst the four major U.S. regions, with two areas posting gains and the other two experiencing waning in April. Year-over-year sales struggled, as each of the four regions reported dips.
Release Number: CB22‐82
Notice of Revision: With this release, unadjusted estimates of housing units authorized by building permits for January through
December 2021 have been revised. Also, seasonally adjusted estimates of housing units authorized by building permits have
been revised back to January 2016, and seasonally adjusted estimates of housing units authorized but not started, started,
under construction, and completed have been revised back to January 2017. All revised estimates are available on our website.
Objective of the Research
The home sales and rental markets continue to suffer from a huge undersupply of both for-sale and for-own
units. As of March, the inventory of existing-homes on the market was equivalent to just two months of
supply, well below the desired level of six months. The median existing-home sales price continues to
increase at a double digit pace of 15% year-over-year.