Existing-home sales slowed in April, partly because restrictive lending practices hampered home buyers, the National Association of Realtors said today.

At the same time, a greater number of areas are showing sales gains from a year ago, and a recent reversal in mortgage policy means the market is better positioned for a turnaround, the trade group said in a news release.

Existing-home sales — including single-family, townhuses, condominiums and co-ops — declined 1 percent to a seasonally adjusted annual rate of 4.89 million units in April from a revised pace of 4.94 million in March, and are 17.5 percent below the 5.93 million-unit level in April 2007.

In the Midwest, existing-home sales were at an annual rate of 1.1 million in April, which is 19.7 percent lower than in April 2007. The median sale price was $159,100, down 2.9 percent from a year earlier.

The national median existing-home price for all housing types was $202,300 in April, which is 8 percent below a year ago, when the median was $219,900.

Total housing inventory at the end of April rose 10.5 percent to 4.55 million existing homes available for sale, which represents an 11.2-month supply at the current sales pace, up from a 10-month supply in March.

However, the organization said that recent announcements that Freddie Mac and Fannie Mae will ease some lending practices beginning June 1 may signal and rebound in housing sales. The government-backed lenders will offer financing of between 95 percent and 100 percent on certain types of loans.