US March Existing Home Sales 4.02 Million... Down 5.9% from Previous Month

JOON HYOUNG LEE

Summary

It was reported that US existing home sales fell significantly short of the market forecast.
Existing home sales decreased by 5.9% compared to the previous month.
Residential real estate indicators are said to be key indicators for assessing the economic situation.

Last month, the number of existing home sales in the United States decreased by 5.9% compared to the previous month.

The National Association of Realtors (NAR) announced on the 24th (local time) that the existing home sales in the US last month were recorded at 4.02 million. This figure significantly falls short of the market forecast (4.14 million). Compared to the previous month (4.27 million), it decreased by 5.9%.

The number of existing home sales is an indicator that can gauge the consumer sentiment and housing market in the United States. In the US, the existing home sales market accounts for more than 80% of the total housing market. Residential real estate indicators are the first to decline during an economic recession and the first to rise during a boom.