Source: San Diego Union-Tribune
“Sales of previously occupied U.S. homes slowed in March, a sluggish start to the spring homebuying season as elevated mortgage rates and rising prices discouraged prospective home shoppers. Existing home sales fell 5.9% last month from February to a seasonally adjusted annual rate of 4.02 million units, the National Association of Realtors said Thursday. The March sales decline is the largest monthly drop since November 2022, when sales fell 6.7% from the previous month. Sales fell 2.4% compared with March last year. The latest home sales fell short of the 4.12 million pace economists were expecting, according to FactSet. The average cost of a U.S. mortgage, which climbed to its highest level in two months last week, is a significant barrier for would-be homebuyers, said Lawrence Yun, NAR’s chief economist.” (04/24/25)
https://www.sandiegouniontribune.com/2025/04/24/home-sales-slowed-spring-buying/