Market Stats April 2025

Nationally:

Affordability and economic uncertainty is weighing on existing home sales, slumping 2.4% compared to April 2024. Although inventory is up 20% from April 2024, the national median existing home price climbed another 2.7% to now $403,700. (1)

For our local Spartanburg market:

Compared to April 2024, there was an 11.3% increase in sales, a 16.3% increase in inventory, Median sales price is up still 0.9% more, and days on market decreased to 37 days. (1)

Trump's recent pause on Tariffs have provided some reprieve, but economic uncertainty maintains as businesses wait to hear what the actual impacts of the tariffs will ultimately be. A longer pause may be ahead as economists doubt that a deal can be struck between China and the US within these 90 days. (2)

“From May 14, additional U.S. tariffs on Chinese imports will fall to 30% (from 145%), and China’s additional tariffs on U.S. goods will decrease to 10% (from 125%). Stocks rallied as a result, with the Dow, the S&P 500 and the Nasdaq Composite notching their biggest single-day gains in over a month.” (2)

Sources:

(1)Spartanburg Association of Reatlors, Monthly Indictors, April 2025 https://scr.stats.showingtime.com/docs/mmi/x/MarketActivityfortheSpartanburgAssociationofREALTORS®?src=page

(2) U.S. Tariffs: What’s the impact on global trade and the economy? May 19, 2025 https://www.jpmorgan.com/insights/global-research/current-events/us-tariffs#:~:text=May%2013:%20The%20US%20and%20China%20announce%20a%2090%2Dday%20reprieve,-In%20a%20de&text=Stocks%20rallied%20as%20a%20result,up%20from%204.1%25%20previously.”

Felicia Page, Published June 1, 2025