Sales of previously owned US homes in March declined 3.6 percent from the previous month, data released Monday showed, amid a worsening interest rate outlook since the start of the war in the Middle East.
Just under four million homes and apartments changed hands during the month on an annualized basis, according to the National Association of Realtors (NAR), down one percent from the same month last year and below expectations.
Analysts had predicted the figure would come in at 4.05 million units, according to the consensus published by MarketWatch.
The median selling price in March rose 1.4 percent from a year ago to $408,800, thanks to a limited inventory of homes available.
