U.S. Existing Home Sales Unexpectedly Fall In April
U.S. home sales unexpectedly fell in April amid persistent weakness in the lower-priced segment of the market, which has experienced an acute shortage of properties.
The National Association of Realtors said existing home sales fell 0.4% to a seasonally adjusted annual rate of 5.19 million units last month.
March’s sales pace was unrevised at 5.21 million units.
Economists polled by Reuters had forecast existing home sales rising 2.7% to a rate of 5.35 million units in April.