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Calculated Risk: NAR: Existing-Home Sales Decreased to 6 01 million in March

Existing-home sales fell in March, marking two consecutive months of declines, according to the National Association of Realtors®. The month of March saw record-high home prices and gains. While each of the four major U.S. regions experienced month-over-month drops, all four areas welcomed year-over-year gains in home sales. Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, decreased 3.7% from February to a seasonally-adjusted annual rate of 6.01 million in March. Sales overall climbed year-over-year, up 12.3% from a year ago (5.35 million in March 2020). . Total housing inventory at the end of March amounted to 1.07 million units, up 3.9% from February s inventory and down 28.2% from one year ago (1.49 million). Unsold inventory sits at a 2.1-month supply at the current sales pace, marginally up from February s 2.0-month supply and down from the 3.3-month supply recorded in March 2020. Inventory numbers cont

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