Home prices have had the biggest drop since 2012 while home sales fell in April 2023 for the second month in a row, according to a report from the National Association of Realtors.
The report shows that existing homes in April, which include townhouses and single family homes, dropped 3.4% from March.
Year-over-year sales dropped 23.2%, down from 5.57 million in April 2022, the report adds.”Home sales are bouncing back and forth but remain above recent cyclical lows,” said NAR Chief Economist Lawrence Yun. “The combination of job gains, limited inventory and fluctuating mortgage rates over the last several months have […]
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