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4/22, 4:00 PM (Source: TeleTrader)
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US existing home sales down 3.7% in March

Sales of existing homes in the United States decreased by 3.7% in March on a monthly basis to a seasonally-adjusted annual rate of 6.01 million, according to a report by the National Association of Realtors (NAR) on Thursday. Year-on-year, sales were up 12.3%.

The median existing-home price for all housing types in March surged by an annual 17.2% to a historic high of $329,100. Total housing inventory at the end of March amounted to 1.07 million units, equal to January’s inventory and down 28.2% year-on-year.

"The sales for March would have been measurably higher, had there been more inventory. Days-on-market are swift, multiple offers are prevalent, and buyer confidence is rising," NAR's chief economist Lawrence Yun commented on the new data.

Breaking the News / JC