Existing home sales fell by 4.3% in March to 4.19 million, down 3.7% from March 2023. That’s according to NAR’s latest update. Here are the other key takeaways for March: |
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Our take |
So far this spring, more sellers than buyers have got off the sidelines and got into the market. This has closed the gap between supply and demand, and caused for-sale inventory to rise again. Unsold inventory is higher now than it was this time last year. Nonetheless, home sales slowed in March after increasing in February. Despite the slowdown, sales remain above expectations, even though mortgage rates have moved higher than expected. |