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US existing home sales hit nine-month low in March, rising mortgage rates cloud outlook
Sales fell 3.6% to a 3.98 million annual rate, the National Association of Realtors said, as easing mortgage rates failed to draw buyers.
- Existing U.S. home sales fell 3.6% in March to a seasonally adjusted annual rate of 3.98 million units, the National Association of Realtors said Monday, marking the slowest pace in nine months.
- Mortgage rates reached 6.37% last week, according to Freddie Mac, as the war with Iran pushed up 10-year Treasury bond yields, raising borrowing costs for homebuyers.
- NAR Chief Economist Lawrence Yun slashed the 2026 existing-home sales forecast to 4% from 14% previously, citing mortgage rate pressures and weak consumer confidence.
- Despite the pullback in sales, home prices continued to rise last month; the national median sales price increased 1.4% from a year earlier to $408,800.
- Americans' short-term expectations for income and business conditions remain well below 80, a recession warning marker, for the 14th consecutive month, signaling persistent economic uncertainty ahead.
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30 Articles
Coverage Details
Total News Sources30
Leaning Left6Leaning Right7Center10Last UpdatedBias Distribution44% Center
Bias Distribution
- 44% of the sources are Center
44% Center
L 26%
C 44%
R 30%
Factuality
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