American homeowners sold fewer homes than expected in April, suggesting that the housing market remains sluggish due to high prices and elevated mortgage rates.
Compared with the prior month, home sales rose by just 0.2 percent in April, the traditional start of the home-buying season, according to the National Association of Realtors. Compared with the prior April, sales were flat.
The seasonally adjusted, annualized pace of sales rose to 4,020,000, up from 4,010,000 in March.
The NAR reported month-over-month sales increases in the Midwest and South. The pace of sales was unchanged in the Northeast and declined in the West. On a…
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