USA: -4.3% in sales of existing homes in March

(CercleFinance.com) - Sales of existing homes in the United States fell by 4.
3% between February and March to 4.19 million annualized and seasonally adjusted (SA), according to the National Association of Realtors (NAR).

The median sales price reached $393.500, up 4.8% year-on-year, and the inventory of unsold existing homes rose by 4.7% to 1.11 million at the end of March, representing 3.2 months of inventory at the current rate.

"Although rebounding from cyclical lows, home sales are stuck because interest rates have not made any major moves," says NAR chief economist Lawrence Yun.

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