March Existing-Home Sales Slip Due to Limited Inventory, Prices Maintain Uptrend
Existing-home sales eased in March from inventory constraints, which continued to pressure home prices, according to the National Association of Realtors.
Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, declined 0.6 percent to a seasonally adjusted annual rate of 4.92 million in March from a downwardly revised 4.95 million in February, but remain 10.3 percent higher than the 4.46 million-unit pace in March 2012.