Existing-Home Sales Dip in April

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Sales of existing U.S. homes dipped in April, despite a significant decline in mortgage interest rates, according to the National Association of Realtors. Sales fell 0.4% in April from March to a seasonally adjusted annual rate of 5.19 million units. Sales were also down 4.4% from the previous year and have decreased on an annual basis for the past 14 consecutive months. Meanwhile, the median price for existing homes continued to rise, growing to $267,300, up 3.6% from April 2018.