WASHINGTON, DC—Amid a disappointing report from the National Association of Realtors on last month's existing-home sales, there's a nugget of good news. Sales of existing apartment units—including condominiums and cooperatives—held their own in April even as existing-home volume showed an overall decline of 3.3% from March, according to NAR data.
Condo and co-op resale volume was unchanged from March's seasonally adjusted level of 610,000 units, and was 3.4% higher than April 2014, when 590,000 units changed hands. The median price of a for-sale apartment was up 0.4% year-over-year to $206,100.
Overall, existing-home sale volume fell to 5.04 million units in April from an upwardly revised 5.21 million in March. Even so, sales have increased Y-O-Y for seven consecutive months and are still 6.1% above a year ago. Additionally, April marked two consecutive months of sales exceeding five million units.
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