US April home sales fall as tight supply boosts prices
Despite the decline, the sales pace was the fourth highest in the past 12 months
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Washington
US home resales fell more than expected in April, weighed down by a chronic shortage of houses on the market that is keeping house prices elevated and sidelining prospective buyers.
The National Association of Realtors (NAR) said on Wednesday that existing home sales declined 2.3 per cent to a seasonally adjusted annual rate of 5.57 million units last month.
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