Sluggish start for spring homebuying season as home sales fall in March with mortgage rates rising
Time:2024-05-21 11:52:23 Source:entertainmentViews(143)
LOS ANGELES (AP) — The spring homebuying season is off to a sluggish start as home shoppers contend with elevated mortgage rates and rising prices.
Sales of previously occupied U.S. homes fell 4.3% in March from the previous month to a seasonally adjusted annual rate of 4.19 million, the National Association of Realtors said Thursday. That’s the first monthly decline in sales since December and follows a nearly 10% monthly sales jump in February.
Existing home sales also fell 3.7% compared with March last year. The latest sales still came in slightly higher than the 4.16 million pace economists were expecting, according to FactSet.
A modest pullback in mortgage rates early this year helped lift home sales in January and February, but rates mostly ticked up in February and March, when many of the home sales that were finalized last month would have taken place.
Previous:Red Lobster seeks bankruptcy protection after closing some restaurants
Next:Brazil replaces injured goalkeeper Ederson in Copa America squad
You may also like
- Strictly star Giovanni Pernice's former partner Rose Ayling
- Hapoel Jerusalem win Israel's basketball State Cup
- China, Vietnam cross
- Ally McCoist urges one Man United star to be first out the door in club's mass sale this summer
- 'The Apprentice,' about a young Donald Trump, premieres in Cannes
- China's national library starts collecting representative documentaries
- Kanye West, 46, and wife Bianca Censori, 29, stop at Denny's for low
- French security forces work to regain control of airport highway in violence
- Adams, Reyna, Turner, Ream are US concerns ahead of Copa America