U.S. Existing Home Sales Fell in April

Mony
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WASHINGTON—Sales of previously owned U.S. homes declined in April, as inventory shortages and rising prices weigh on the market and higher mortgage rates begin to pose a threat to demand for the first time in years.

Existing-home sales fell 2.5% in April from the prior month to a seasonally adjusted annual rate of 5.46 million, the National Association of Realtors said Thursday. Compared with a year earlier, sales in April were down 1.4%—the second consecutive month sales declined on an annual basis.

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