WASHINGTON (AP) — Sales of existing U.S. homes slipped in
March to their lowest level since July 2012 as rising prices and a
tight supply of available homes discouraged many would-be buyers.
The
National Association of Realtors says sales edged down 0.2 percent to a
seasonally adjusted annual rate of 4.59 million. It was the seventh
drop in the past eight months.
Sales rose in the Northeast and
Midwest, suggesting that cold winter weather did not slow sales. And the
Realtors’ group says the scant decline shows that sales are stabilizing
and may strengthen in the coming months as the spring buying season
picks up. Many Realtors report seeing more potential buyers at open
houses.
Fewer homes for sale, higher mortgage rates and rising prices have contributed to lower sales since last
summer.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.
WASHINGTON (AP) — Sales of existing U.S. homes slipped in
March to their lowest level since July 2012 as rising prices and a
tight supply of available homes discouraged many would-be buyers.
The
National Association of Realtors says sales edged down 0.2 percent to a
seasonally adjusted annual rate of 4.59 million. It was the seventh
drop in the past eight months.
Sales rose in the Northeast and
Midwest, suggesting that cold winter weather did not slow sales. And the
Realtors’ group says the scant decline shows that sales are stabilizing
and may strengthen in the coming months as the spring buying season
picks up. Many Realtors report seeing more potential buyers at open
houses.
Fewer homes for sale, higher mortgage rates and rising prices have contributed to lower sales since last
summer.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.