Sales of previously owned homes in the United States dropped by 3.4 in April than in March and 23.2 lower than in 2022. Factors such as job gains, limited inventory, and fluctuating mortgage rates have contributed to a push-pull effect on housing demand. The median price of existing homes sold in April was $388,800, indicating a 1.7 decrease from the previous April. Sales declined across all price points compared to April 2022, with the sharpest drop observed for homes priced above $500,000. This decline is likely driven by affordability rather than supply, as more homes are available for sale in the higher-end market.