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

U.S. existing home sales unexpectedly fell in April despite a temporary drop in mortgage rates and increased supply, and could remain lackluster this year amid rising economic uncertainty.

Home sales in April fell, as consumers faced high house prices and growing concern over the economy and employment. "Home sales have been at 75% of normal or pre-pandemic activity for the past three years,