The Wall Street Journal
Sales of existing homes declined in April, after mounting economic uncertainty and steep housing costs pushed buyers away for the second consecutive month during the crucial spring season.
U.S. existing-home sales fell slightly by 0.5% in April from the prior month to a seasonally adjusted annual rate of 4 million, the slowest sales pace for any April since 2009, the National Association of Realtors® said Thursday. April sales fell 2% from a year earlier.
The national median existing-home price in April was $414,000, up 1.8% from a year earlier and the highest median home price for any April, NAR said. The year-over-year price growth was the slowest since mid-2023.
"Even with increasing inventory, we are not getting a pickup in home sales," said Lawrence Yun, NAR's chief economist. "The affordability condition is clearly hurting the market."
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