But the best news in the report was that distressed sales, which includes foreclosures and short sales, only accounted for 18% of sales.
This was down from 21% in March, and 28% a year ago.
Foreclosures accounted for 11% of sales and sold for an average discount of 16% below market value. Short sales accounted for 7% and sold at a 14% discount.
"That’s the lowest reading since the NAR started collecting these data in 2008," wrote Capital Economics' Paul Diggle.
"Just 15 months ago, distressed sales accounted for 35% of all existing home sales. Put another way, distressed sales are down 29% y/y while non-distressed sales are up 25%. The market is starting to take on a semblance of normality."
He also pointed out that inventory while low, is rising as rising home prices are boosting confidence. "The increase in the seasonally-adjusted months' supply of unsold stock in April, from 4.9 to 5, was slight and not a threat to continued house price gains."
Here's a look at existing homes for sale since 1983:
More From Business Insider
- Sergio Garcia Has Now Made A 'Fried Chicken' Joke About Tiger Woods
- Apple Avoids Paying $17 Million In Taxes Every Day Through A Ballsy But Genius Tax Avoidance Scheme
- John McCain To Tim Cook: 'Why The Hell Do I Have To Keep Updating Apps On My iPhone?'
- Investment & Company Information