Record price increases, mortgage rate hikes and record-low inventory are squeezing the vitality out of the US home-selling market like a hungry python.
Existing home sales declined for the third straight month in April, with contract closings at their lowest level since the nadir of the pandemic in June 2020, according to new figures from the National Association of Realtors.
NAR reported that sales of previously owned US homes in April decreased by 2.4% in April from the prior month to an annualized rate of 5.61M.
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