U.S. home resales hit seven-month low in March

Sales of existing U.S. homes in March fell by 3.7 percent to a seasonally adjusted annual rate of 6.01 million units, according to data from the (U.S.) National Association of Realtors. That was the lowest level since August 2020 and fell short of the 6.19 million unit pace projected by economists in a Reuters poll. Year-over-year, sales rose by 12.3 percent and remained above their pre-COVID pace.