opinions

Sluggish start for spring homebuying season as home sales fall in March with mortgage rates rising

Font size+Author:Cultural Carousel news portalSource:business2024-05-21 14:00:54I want to comment(0)

LOS ANGELES (AP) — The spring homebuying season is off to a sluggish start as home shoppers contend

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.

Related articles
  • Britain's new bonkers EV: Callum Skye is an £80k electric buggy built in Warwickshire

    Britain's new bonkers EV: Callum Skye is an £80k electric buggy built in Warwickshire

    2024-05-21 13:27

  • Authorities say 4 people are dead after a train collided with a pickup in rural Idaho

    Authorities say 4 people are dead after a train collided with a pickup in rural Idaho

    2024-05-21 13:18

  • Biden warns Netanyahu US will NOT support Israel's counterattack on Iran amid fears of all

    Biden warns Netanyahu US will NOT support Israel's counterattack on Iran amid fears of all

    2024-05-21 12:40

  • New building of museum at Shang Dynasty capital site to open this month

    New building of museum at Shang Dynasty capital site to open this month

    2024-05-21 11:28

Netizen comments