US existing-home sales decline as rates keep buyers sidelined


Mortgage rates have moved back above 7%, hindering recent momentum in the housing market. — Bloomberg

SALES of previously-owned homes in the United States fell in March from a one-year high, underscoring the lingering impact of high mortgage rates and elevated prices.

Contract closings decreased 4.3% from a month earlier to a 4.19 million annualised rate, according to National Association of Realtors (NAR) data.

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