Existing-home sales in April experienced the steepest price decline in over a decade, marking a significant year-over-year drop amidst a slowdown in the housing market. Prices for previously owned homes fell by 1.7% in April, surpassing the 1% decline in March. The National Association of Realtors reported a median price of $388,800 for existing homes in April. Sales of existing homes also declined by 3.4% from the previous month and 23.2% from the previous year, as per NAR data.
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