This time last year, the pace of sales was up nearly 10%.
Lawrence Yun, a chief economist at the National Association of Realtors, said that customer traffic is actually up 31% in comparison to a year ago.
"Without these frictions, existing-home sales easily would be well above the 5-million unit pace," he said.
The medium price of a home sold in April was $192,800, which is up 11% from a year ago.
For nearly two years, the pace of new home sales has been rising.
