By Dees Stribling | MHN Online
The National Association of Realtors reported on Tuesday that total existing U.S. home sales dropped 0.2 percent to an annualized rate of 4.59 million units in March, compared with 4.6 million in February. Sales in March 2014 were 7.5 percent below the 4.96 million-unit pace in March 2013, and in fact last month’s sales volume remained the slowest since July 2012, when it was 4.59 million.
NAR also reported that total housing inventory at the end of March rose 4.7 percent to 1.99 million existing homes available for sale, which represents a 5.2-month supply at the current sales pace. That’s up from five months in February, and also up from a year ago, when there was a 4.7-month supply.
