The National Association of Realtors says home sales fell 4.9% to a seasonally adjusted annual rate of 5.21 million, down from 5.48 million in February. The drop followed an 11.2% gain the previous month, the largest in more than three years.
Home sales are struggling to rebound after slumping in the second half of last year, when a jump in mortgage rates to nearly 5% discouraged many would-be buyers. Realtors expect sales to rebound in coming months. Borrowing costs have since fallen back to an average of 4.2% on a 30-year fixed mortgage. The job market also remains solid.
how a 1950s ranch that cost $12K new is worth $250K now is insane.
uh ohhhhhhhhh
And so it begins..
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