March Sees Significant Drop in U.S. Home Sales and Prices
TL;DR Summary
Home sales in the US fell 2.4% in March from the prior month to a seasonally adjusted annual rate of 4.44 million, marking a 22% decline from a year earlier, according to the National Association of Realtors. This sluggish start to the crucial spring selling season was attributed to higher mortgage rates that squashed momentum from the previous month. Additionally, home prices in March posted the biggest annual decline in 11 years.
Topics:business#home-sales#mortgage-rates#national-association-of-realtors#real-estate#spring-selling-season#us-housing-market
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