NAR released March sales for existing homes.  Sales dipped 2.4% from one year ago.

Key Highlights

• Existing-home sales slipped 5.9% in March to a seasonally adjusted annual rate of 4.02 million.
• Sales slowed 2.4% from one year ago.
• The median existing-home sales price climbed 2.7% from March 2024 to $403,700, an all-time high for the month of March and the 21st consecutive month of year-over-year price increases.
• The inventory of unsold existing homes jumped 8.1% from the previous month to 1.33 million at the end of March, or the equivalent of 4.0 months’ supply at the current monthly sales pace.

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