Key Highlights

  • Existing-home sales receded 3.4% in April to a seasonally adjusted annual rate of 4.28 million. Sales fell 23.2% from one year ago.
  • The median existing-home sales price slipped 1.7% from one year ago to $388,800.
  • The inventory of unsold existing homes increased 7.2% from the previous month to 1.04 million at the end of April, or the equivalent of 2.9 months’ supply at the current monthly sales pace.

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