U.S. home resales hit two-year low

Sales of existing U.S. homes fell by 2.7 percent in March to an annualized pace of 5.77-million units, the National Association of Realtors reports. That was the lowest level of sales since June 2020. February’s rate was revised markedly downward to 5.93-million units, from the preliminary estimate of 6.02-million.