Existing Home Sales Disappointing, Falling 3.7% in March

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The US existing home sales fell 3.7% in Marchor, disappointing the expected rise of 0.8%. In February, sales fell 6.3% (revised from the 6.6% decline posted a month ago).

In total, the number of existing home sales stood at 6,010,000 compared to an estimated 6,190,000, down from 6,240,000 the previous month (revised from 6,220,000). March is the lowest figure recorded since last August.

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According to the Association of Realtors of the United States the Average sales price of existing homes in March increased at a record annual rate of 17.2% to an all-time high of $ 329,100, and all regions posted double-digit price increases. Median sales price of existing single-family homes rose 18.4% to $ 334,500, both record highs.

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