The impact on housing.
Welcome to the Know the Difference Minute for Thursday the 19th.
For a long time, homebuyers wrestled with supply and demand and skyrocketing prices. April’s median price was the highest on record, up almost 15% from a year ago. 
The National Association of Realtors is reporting April sales of previously owned homes fell to the lowest pace since Covid began, down almost 6% from a year ago. 
It’s another example of inflation’s impact—this time with mortgages. Frustrated by a lack of choices, worn down by missing out, and facing higher monthly payments, some buyers might finally be taking a breather. The softening in sales is felt the most with homes under $250,000.  
But not everyone is sitting out. Homes over ½ a million are still active. The average house still sells in 17 days and all-cash offers make up 25% of sales. 
I’m Dave Spano from Annex Wealth Management.  That is your Know the Difference Minute.