NAR: Existing-home sales slide 2.5 percent in April
After moving upward for two straight months, existing-home sales retreated in April on both a monthly and annualized basis, according to the National Association of REALTORS (NAR).
Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, decreased 2.5 percent to a seasonally adjusted annual rate of 5.46 million in April from 5.6 million in March. Sales are now 1.4 percent below a year ago, and have fallen year-over-year for two straight months.
April existing-home sales in the Northeast fell 4.4 percent to an annual rate of 650,000, and are 11 percent below a year ago.