March Home Sales Were the Slowest Since 2009. Some Predict Prices Could Drop Next

March US home sales see slowest pace since 2009

It’s a lackluster start to the spring homebuying season as elevated mortgage rates and rising prices discourage home shoppers.

Sales of Existing Homes Drop to Worst March Since 2009. West, South, Midwest, Northeast All Get Crushed. Supply Surges to Highest Since 2016.

by Wolf Richter Wolf Street The 3-year 50% price explosion has caused epic demand destruction. Prices are way too high. But mortgage rates are back in the historically normal range above 6%. The feverishly anticipated spring selling season is starting out as a dud. Sales of existing homes – single-family houses, townhouses, condos, and co-ops – that closed in March fell by 3.1% from the already frozen volume a year ago to 315,000 deals, not seas…

March Home Sales Were the Slowest Since 2009. Some Predict Prices Could Drop Next

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