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Existing home sales decreased 0.5% in April and 2.0% from April 2024. Housing inventory grew to 1.45 million units, reflecting a 9.0% rise from March and a 20.8% jump from last year. The median existing home price was $414,000, up 1.8% from last year. The Northeast and Midwest registered increases, while the South and West posted decreases.

Single-family home sales fell 0.3% in April and 1.4% over the year, with the median price increasing 1.7% from April 2024 to $418,000. Condo and co-op sales slipped 2.6% to 370,000 units in April and were down 7.5% from last year. Meanwhile, the median price rose 1.4% from the prior year to $370,100.

Homes were typically on the market for 29 days in April, down from 36 days in March but up from 26 days in April 2024. First-time buyers made up 34% of sales in April, up slightly from 32% in March and 33% at the same time last year.