Sales of previously owned homes in April tumbled for the third straight month to their slowest pace since the start of the pandemic, according to the National Association of Realtors on May 19.
Existing home sales fell to a seasonally adjusted annual rate of 5.61 million, while sales were down 2.4 percent from March and 5.9 percent from the year before in April 2021, which had a rate of 5.96 million.
This is the slowest rate since June 2020, after the economy was hit with widespread shutdowns due to the CCP virus.
“We are moving back to pre-pandemic sales activity, but I expect further declines,” said Lawrence Yun, NAR’s chief economist….