Sales of existing homes plunged in April, notching the biggest decline in a decade, according to the National Association of Realtors. Sales of previously owned homes fell 17.8% from March amid stay-at-home orders, with the biggest dips seen in the West.
Sales of existing homes plunged in April, notching the biggest decline in a decade, according to the National Association of Realtors.
Sales of previously owned homes fell 17.8% from March amid stay at home orders across the US, with the biggest dips seen in the West. Sales were down 17.2% from a year ago, NAR reported.More from Success All employees face mental health risks now. Here's how managers can helpFederal student loans will be cheaper than ever
"The economic lockdowns -- occurring from mid-March through April in most states -- have temporarily disrupted home sales," said Lawrence Yun, NAR's chief economist."But the listings that are on the market are still attracting buyers and boosting home prices."Sales of existing homes in April were at the lowest level since July 2010. It was also the largest month-over-month drop since July 2010.
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