What the numbers say
: The median sale price for a U.S. home continued to drop in April, with the median price down 1.7% from a year prior. That is the biggest annual drop since Jan. 2012.
Relevance: Existing U.S. home sales had their biggest monthly drop in more than 11 years in April, falling by 3.4% from March. 4.28 million homes were sold in April, 23.2% fewer than in April 2022.
What's next?: Homebuilder sentiment finally turned positive in May for the first time since July 2022.
