US Existing-Home Sales Decline as Rates Keep Buyers Sidelined
- Contract closings dropped 4.3% in March to 4.19 million rate
- Number of listings picked up as did median home price
A house for sale in Westchester County in Rye, New York.
Photographer: Stephanie Keith/BloombergThis article is for subscribers only.
Sales of previously-owned homes in the US fell in March from a one-year high, underscoring the lingering impact of high mortgage rates and elevated prices.
Contract closings decreased 4.3% from a month earlier to a 4.19 million annualized rate, according to National Association of Realtors data released Thursday. The pace was in line with the median estimate of economists surveyed by Bloomberg.