The slowest sales pace for any April in 16 years indicates the spring selling season is shaping up as a bust.

Spring is typically a busy time for home sales as the weather warms up and families prepare to move before a new school year. But the season has started out sluggish, as would-be buyers face higher mortgage interest rates and elevated prices.

Sales of previously owned homes in April declined 0.5% from March to a seasonally adjusted, annualized rate of 4 million units, according to the National Association of Realtors. That is the slowest April pace since 2009. Sales were down 2% from April of last year. Housing economists were expecting a gain of 2.7%.