The national median home price slipped 0.9% from March last year to $375,700, the NAR said. That’s the biggest annual median home price drop since January 2012.
Existing home sales fell 2.4% last month from February to a seasonally adjusted annual rate of 4.44 million, the National Association of Realtors said Thursday.
The inventory of homes on the market rose 1% from February, with some 980,000 properties on the market by the end of March. Elevated mortgage rates, which can add hundreds of a dollars a month in costs for homebuyers, on top of already high home prices, have kept many would-be buyers on the sidelines.Christopher Sadowski
Australia Latest News, Australia Headlines
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