U.S. existing-home sales declined 2.4 percent month-over-month as of last measure,
according to the National Association of REALTORS® (NAR), reversing February’s
sales gain of 14.5%. Fluctuations in mortgage interest rates have caused buyers to
pullback, with pending sales dropping 5.2% month-over-month. Meanwhile, the
median existing-home sales price declined for the second month in a row, falling
0.9% nationally from the same time last year, the largest year-over-year decline since
January 2012, according to NAR.

Download the April 2023 Market Heartbeat & Showing Reports here.