US existing home sales fell for the second consecutive month in April

The National Association of Realtors said that existing home sales in the United States fell 3.4% to a seasonally adjusted annual rate of 4.28 million units in April, the second consecutive monthly decline. The 30-year mortgage average was 6.35% as of May 11, down slightly from the previous week, and on a year-over-year basis, existing home prices experienced their biggest decline since 2012.

The data showed that the median price of existing homes in the United States fell 1.7% to $388,800 in April compared to the same period last year, the largest decline in more than a decade.