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Home Sales Fell in March as Higher Mortgage Rates Deterred Buyers

Home Sales Fell in March as Higher Mortgage Rates Deterred Buyers

Sales of previously owned homes fell 4.3% from February on a seasonally adjusted basis, according to the National Association of Realtors. Economists surveyed by The Wall Street Journal had forecast a slightly bigger decline of 4.8%. Sales of existing homes rose at the start of the year, as buyers took advantage of a decline in mortgage rates at the end of 2023.