Home sales in Pittsburgh region continue to decline

Home sales in the Pittsburgh region continued to fall this year, declining 23.2 percent in April compared to a year ago, while the region's top three new home builders experienced their slowest month in the past three years, according to a report issued today.

There were 1,736 houses sold last month compared to 2,260 for the same month last year in Allegheny, Beaver, Butler, Washington and Westmoreland counties, said RealStats, a South Side-based company that tracts sales in the region.

"It's difficult to draw any meaningful conclusions about the state of home sales looking back just one year," said Daniel Murrer, RealStats vice president.

"The federal government effectively doped the blood of the market with the homebuyer tax credit (last year)," and despite "absence of the tax credit, the market remains fragile but still up from two years ago," he said.

Existing home sales reached 1,618 last month, down 22.8 percent from the 2,096 for the same month last year as all five counties experienced a decline, the report said.

The average home price was up 2.5 percent at $149,833 compared to $146,117 last April. However, the median price declined 3.9 percent, with $117,000 last month compared to $121,700 a year ago. The median price is the point at which half the homes sold for more and half for less.

There were 118 new houses sold in April, down 28 percent from the 164 for the same month in 2010.

NVR Inc., the parent of Ryan Homes, led with 46, with Maronda Homes Inc. second at 11 and Heartland Homes Inc. at nine. NVR had 54 sales in April 2010, followed by Heartland with 22 and Maronda, 17.

Average price of new homes sold was $325,844, up 13.4 percent from the $287,463. The median price also was up at 8.5 percent with $282,913 compared to $260,865.