Home sales dropped 5.9% last month to a seasonally adjusted annual rate of 4.02 million units, the National Association of Realtors said on Thursday morning.

Sales of existing homes slowed in April compared to March, as rising prices and high mortgage rates put a damper on demand.

Spring is typically a busy time for home sales as the weather warms up and families prepare to move before a new school year.

The slowest sales pace for any April in 16 years indicates the spring selling season is shaping up as a bust.

"There's a general feeling of anxiety in the housing market because no one knows what they're going to read in the news when they wake up," Close said in a news release. "That uncertainty is freaking ...

M/M to 743K vs. 700K consensus and 724K prior, according to data released by the U.S. Census Bureau on Friday.

Sales of newly built homes unexpectedly rose in April, a sign that price cuts and other incentives are luring some hesitant ...