US existing home sales down 5.9% in March - Breaking The News

US existing home sales down 5.9% in March

24 April

1 min read

EPA/LARRY W. SMITH

Existing home sales in the United States decreased by 5.9% in March compared to the previous month and stood at a seasonally adjusted annual rate of 4.02 million, the National Association of Realtors (NAR) shared in a report on Thursday. On an annual level, the sales were down by 2.4%.

The median existing home sales price for all housing types progressed by 2.7% year-over-year, coming in at $403,700. Total housing inventory at the end of March was at 1.33 million units, surging by 8.1% in comparison to the previous month and rising by 19.8% compared to March 2024.

"Home buying and selling remained sluggish in March due to the affordability challenges associated with high mortgage rates. Residential housing mobility, currently at historical lows, signals the troublesome possibility of less economic mobility for society," said NAR Chief Economist Lawrence Yun.

existing home sales data

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