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| Backtrack for Existing-Home Sales: Can Lower Mortgage Rates Revive Them? |
| By RISMedia Staff |
Existing-home sales in March tumbled 4.9 percent, coming off a February surge, the National Association of REALTORS® reports. At 5.21 million, existing-home sales last month underwhelmed by 5.4 percent year-over-year. "It is not surprising to see a retreat after a powerful surge in sales in the prior month," says Lawrence Yun, chief economist at NAR. "Still, current sales activity is underperforming in relation to the strength in the jobs markets. The impact of lower mortgage rates has not yet been fully realized." Encouragingly, however, 1.68 million existing homes were on the market, an increase from 1.63 million in February and 1.64 million the prior year. ...
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For some, the thought of designing and building their dream home can serve as motivation for a good portion of their lives.
