the numbers existinghome sales fell 24 to a seasonally adjusted annual rate of 561 million in april the national association of realtors said thursday compared with april 2021 home sales were down 59 economists polled by the wall street journal had expected an decrease to 564 million units this is the third straight monthly decline and comes as mortgage rates have spiked and prices have risen key details scarcity of homes for sale continued to be a major factor the total inventory of homes for sale was 103 million units down 104 from one year ago expressed in terms of the monthssupply there was a 22month supply of homes for sale in april before the pandemic a 4month supply was more the norm the median price for an existing home was an alltime high of 391200 up 148 from april 2021 homes remained on the market for 17 days on average regionally sales rose in the northeast and midwest and sank in the south and the west allcash transactions made up 26 of all transactions about 28 of homes were sold to firsttime home buyers what nar is saying “i expect further declines in home sales” said lawrence yun the national association of realtors’ chief economist in a discussion with reporters mortgage rates are rising and supply remains low he noted there is less incentive for homeowners to list their properties because they would lose their superlow mortgage rates market reaction stocks djia spx opened lower on thursday on continued growth concerns the yield on the 10year treasury note tmubmusd10y fell to 28 on flighttosafety trading