Home sales fell again in April after high mortgage rates damped activity

Sales of previously owned homes decreased 1.9% from the prior month to a seasonally adjusted annual rate of 4.14 million, the National Association of Realtors said Wednesday. The decline last month came as a surprise to housing analysts. Economists surveyed by The Wall Street Journal estimated sales of previously owned homes rose a seasonally adjusted 1.4% in April from March.

Some people who have been waiting for borrowing rates to fall before selling their homes can’t wait any longer, economists and real-estate agents say. 4 KEY STRATEGIES FOR HOMEBUYERS IN TODAY'S CHALLENGING MARKET Alexandra Perkinson and Brian Russman said they were drawn to the natural beauty of Asheville, N.C. So they decided to sell their Florida home and move, even though it meant giving up a 4.375% mortgage rate for a higher one.

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Existing home sales fell in April as market faced pressure from mortgage ratesExisting home sales fell in April, extending a trend of declines as the housing market reels from higher mortgage rates.
Source: dcexaminer - 🏆 6. / 94 Read more »

Existing home sales fell in April as market faced pressure from mortgage ratesxisting home sales fell in April, extending a trend of declines as the housing market reels from higher mortgage rates.
Source: dcexaminer - 🏆 6. / 94 Read more »