Lawler: Early Read on Existing Home Sales in April

From housing economist Tom Lawler:

Based on publicly-available local realtor/MLS reports released across the country through today, I project that existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted annual rate of 3.98 million in April, down 1.0% from March’s preliminary pace and down 2.5% from last April…