Home sales in April fell, as consumers faced high house prices and growing concern over the economy and employment. “Home sales have been at 75% of normal or pre-pandemic activity for the past three years, even with seven million jobs added to the economy,” said Lawrence Yun, NAR’s chief economist. The median price of an existing home sold in April was $414,000, an increase of just 1.8% year over year. A “Sale” sign in front of a home in Washington, DC, US, on Thursday, May 8, 2025. Nathan Howard | Bloomberg | Getty Images
The spring housing market continues to struggle amid high interest rates and low consumer confidence.
Sales of previously owned homes in April declined 0.5% from March to a seasonally adjusted, annualized rate of 4 million units, according to the National Association of Realtors. That is the slowest April pace since 2009.
Sales were down 2% from April of last year. Housing economists were expecting a gain of 2.7%.
This count is based on closings, meaning contracts that were likely signed in February