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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