Home sales dropped 3.4% from March
/cloudfront-us-east-1.images.arcpublishing.com/gray/G2PKYQRAHZHERG5HMFXYXE4EXE.png)
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.
Copyright 2023 WABI. All rights reserved.
/cloudfront-us-east-1.images.arcpublishing.com/gray/ZQ3HWNZJKFHT7C4QGV4S3BSPFQ.jpg)
/cloudfront-us-east-1.images.arcpublishing.com/gray/S54NBAPSFFHHXGKNBPHH27Z6NU.png)
/cloudfront-us-east-1.images.arcpublishing.com/gray/KTC6USL3KBH4HOSVAEVOAMTDQI.png)
/cloudfront-us-east-1.images.arcpublishing.com/gray/VXZJMH5X6JAOVHL5RFE73VL5GU.jpg)
/cloudfront-us-east-1.images.arcpublishing.com/gray/5K3XC2HDHNCYLEM2T63HXUH6VQ.jpg)
/cloudfront-us-east-1.images.arcpublishing.com/gray/IRGKPMF5YNAPRAVLL4N2D3XU7Y.png)
/cloudfront-us-east-1.images.arcpublishing.com/gray/PWCFOGYSPJESDDE6HTQ6UCXQEU.jpg)
/cloudfront-us-east-1.images.arcpublishing.com/gray/LBGJ2SQTW5HO5PGBTGATDY6YWA.jpg)
/cloudfront-us-east-1.images.arcpublishing.com/gray/HMUALF62VJERDGIXK6AOFPFROA.jpg)
/cloudfront-us-east-1.images.arcpublishing.com/gray/ENKWZQ42EZB7NLMSC4X45CSMRA.png)