The U.S. second-hand housing market started the peak season on a weak note, with sales rising slightly but falling short of expectations, while home prices hit a record high for April.

April is traditionally a peak season, but the annualized rate of existing home sales in the U.S. reached only 4.02 million units in April, marking a mere 0.2% increase from the previous month. Meanwhile, the median sales price rose by 0.9% year-on-year to USD 417,700, setting a new record high for April. High housing prices, elevated mortgage interest rates, and recent increases in energy costs have eroded household budgets, leading to April sales falling short of expectations.

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