US Existing Home Sales Fell in April

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US Existing Home Sales Fell in April

WASHINGTON—Sales of previously owned U.S. homes declined in April, signaling that a runup in prices and limited inventory may be damping momentum in home purchases this spring.

Existing-home sales fell 2.5% in April from the prior month to a seasonally adjusted annual rate of 5.46 million, the National Association of Realtors said Thursday. Economists surveyed by The Wall Street Journal had expected sales to fall to a 5.55 million annual rate last month.

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