Home sales dropped 3.4% from March
Published: May. 18, 2023 at 12:16 PM EDT
BANGOR, Maine (WABI) - Home sales dropped for a second month in April.
The National Association of Realtors says existing home sales dipped 3.4% from March.
It is an even bigger drop when compared to last year, a loss of 23%.
Mortgage rates have been climbing and were near 7% when many of the homes sold in April went under contract.
They say fluctuating mortgage rates, limited inventory, and job gains have created a push-pull in housing demand.
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