John Skinner1- Sales of existing homes cool off in April amid tight supply (National)
Tight supply in many parts of the country is the reason behind the decline. Homes are selling in an average of 39 days, their fastest clip since June 2013, and that’s driving prices up.
2- So Cal home sale prices show gains
Southern California home prices and sales climbed in April for the second straight month after a period of stagnation. The gains, however, may signal a tough summer ahead for buyers, who face a dwindling supply of homes in most areas. Prices up a moderate 6.2% from April 2014, to a median of $429,000 across the six-county Los Angeles metropolitan area. Sales volume climbed 8.5%.
3-New home construction rebounds strongly, reaches best pace since 2007 (National)
The figures were higher than forecasted and indicated broader economic growth. Many economists attributed the drop in 1st quarter numbers to severe weather across the nation.
