Spring Selling Season Fizzles, Worst April for Home Sales since 2009, Supply Surges to Highest since 2016, YoY Price Gains Fade

Sales of existing single-family homes, townhouses, condos, and co-ops that closed in April fell by 0.5% from the prior month and by 2.0% year-over-year to a seasonally adjusted annual rate of 4.0 million homes, the worst April since 2009, according to data from the National Association of Realtors today.