Home sales fell again in April as inventory remains low, according to the latest Minneapolis Area Association of Realtors report.
The number of homes for sale was 25.1 percent lower last month when compared with April of last year, with 8,958 properties available. David Arbit, director of research and economics for the association, said that's the lowest inventory of any April it has seen since at least 2003.
And a smaller market means fewer sales; closed sales dropped 5.2 percent year-over-year.
