US home prices fall by most in 11 years but sales are down

Posted on AllSides May 19th, 2023
From The Left

US home sales fell in April for the second month in a row and home prices had the biggest drop since 2012, according to a National Association of Realtors report released Thursday.

Sales had shown some life, rising in February after a full year of declines due to surging mortgage rates, but that momentum has since cooled.

In April, sales of existing homes — which include single-family homes, townhomes, condominiums and co-ops — dropped 3.4% from March. Annually, sales were down 23% from a year ago and the seasonally adjusted...

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