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Sales of existing homes cool off again in April amid tight supply
Sales of existing homes cool off again in April amid tight supply

The U.S. housing market's stop-and-start recovery slowed again in April as home sales dipped. Sales of previously owned homes fell 3.3% in the month, according to figures released Thursday by the National Assn. of Realtors. The median price climbed 8.9% compared with a year ago, the 38th consecutive month of annual gains. The Realtors group's chief economist, Lawrence Yun, pegged the sales dip -- which came one month after existing home sales hit their highest level in almost two years -- on tight supply in many parts of the country. Homes are selling in an average of 39 days, their fastest clip since June 2013, and that's driving prices up. "April's setback is...

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