US existing home sales fall in March

Current homes in the United States have decreased more than expected in March, high borrowing costs, and more increasing interest in economic slowdown due to the demand for SAP.

House sales decreased by 5.9 % last month to an annual seasonal average rate of 4.02 million units, according to the National Association of Real Estate Bidgers on Thursday. Reuters economists expected that the reselling of the house will decrease to 4.13 million units.

Sales decreased by 2.4 % on an annual basis in March.

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House sales decreased by 5.9 % last month to an annual rate of 4.02 million units. (Steve Pfost / Newsday RM via Getty Images / Getty Images)

Current homes sales are calculated to close the contract. Last month’s sales may reflect the contracts signed in January and February when the average fixed mortgage rate for 30 years hovering approximately 7 %. The rate later declined in March before it reached the highest level last week.

Economic expectations that are overwhelmed by the uncertainty caused by the uncertainty about the tariff policy that has been constantly turned to President Donald Trump and the ongoing tariff duties that are already imposed on a large number of imports, including wood, wandering in the housing market.

government data showed on Wednesday that the sales of new homes rose to the highest level in six months in March, with a decrease in the average price, as the incentive builders offered to reduce stocks, currently at the levels that were last seen in late 2007 at the height of the global financial crisis.

“The purchase of the house and the sale remained slow in March due to the challenges of bearing costs associated with the high mortgage rates,” said Lawrence Yun, Nar chief economist.

Economic expectations that are overwhelmed by the uncertainty caused by the uncertainty about the tariff policy that has been constantly turned to President Donald Trump and the ongoing tariff duties that are already imposed on a large number of imports, including wood, wandering in the housing market. (Getty Images / Getty Images)

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The inventory of current homes jumped by 8.1 % to 1.33 million units in March. The offer increased by 19.8 % from last year. The average price of the current house increased by 2.7 % from the previous year to $ 403,700 in March.

At the pace of March sales, it will take 4.0 months to exhaust the current stock of current homes, up from 3.2 months before the year. The offer is seen from four to seven months as a healthy balance between supply and demand.

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Real estate usually remained on the market for 36 days last month, compared to 33 days ago.

Buyers for the first time account for 32 % of sales, unchanged from last year. Economists and real estate brokers say a 40 % stake for the strong housing market is needed. All-LASH sales constituted 26 % of transactions, a decrease from 28 % a year ago.

Matters, including mortgage imprisonment, constitute 3 % of transactions, which rise from 2 % a year ago.