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Sales of existing homes fell by 1.2 percent in April, the fourth consecutive monthly decline, as rising mortgage rates continued to take their toll on the housing industry, a real estate trade group reported today.

The National Association of Realtors said existing single-family homes were sold at a seasonally adjusted annual rate of 3.36 million units last month, the slowest annual rate in 14 months.

While sales have been falling, the median price of an existing home has continued to rise, climbing to $93,500 in April, up $1,500 from the March level and 6.3 percent higher than a year ago.

Sales in the Northeast climbed 7 percent to an annual rate of 610,000 units.

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