Existing-home sales decline for fifth time in six months

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Sales of previously owned U.S. homes unexpectedly cooled in April, the fifth drop in six months, signaling a rocky start for the housing market this quarter amid a still-tight supply of available properties.

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WASHINGTON (May 21, 2019) – Existing-home sales saw a minor decline in April, continuing March’s drop in sales, according to the National Association of Realtors.Two of the four major U.S. regions saw a slight dip in sales, while the West saw growth and the Midwest essentially bore no changes last month.

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Gains in the Northeast, South and West – a reversal from last month’s steep decline or plateau in all regions – helped overall sales activity rise for the first time since March 2018. Housing.

Sales of previously owned U.S. homes unexpectedly cooled in April – the fifth. increased 3.6 percent from a year earlier to $267,300, the highest on record for the month of April. The drop – also.