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International Business Times
International Business Times
Business

US Existing Home Sales See Biggest Drop Since 2022

United States Lawrence Yun NAR Oliver Allen
Sales of previously-owned US homes fell 5.9 percent in March according to industry data, more than analysts expected (Credit: AFP)

Sales of existing US homes pulled back more than expected in March, logging their biggest drop since late-2022 according to industry data released Thursday, as high mortgage rates weighed on affordability for homebuyers.

Existing home sales slid 5.9 percent last month from February to an annual rate of 4.02 million, seasonally adjusted, the National Association of Realtors (NAR) said.

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