【NAR】Existing-Home Sales Retract 2.4% in April

• Existing-home sales fell for the third straight month to a seasonally adjusted annual rate of 5.61 million. Sales were down 2.4% from the prior month and 5.9% from one year ago.
• With slower demand, the inventory of unsold existing homes climbed to 1.03 million by the end of April, or the equivalent of 2.2 months of the monthly sales pace.
• The median existing-home sales price increased at a slower year-over-year pace of 14.8% to $391,200.

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