April home sales dropped to the slowest pace for that month since 2009

Home sales in April fell, as consumers faced high house prices and growing concern over the economy and employment.

• “Home sales have been at 75% of normal or pre-pandemic activity for the past three years, even with seven million jobs added to the economy,” said Lawrence Yun, NAR’s chief economist.

• The median price of an existing home sold in April was $414,000, an increase of just 1.8% year over year.