US existing sales for March 4.02M vs 4.13M estimate

• Prior month 4.26M revised to 4.27M
• Existing home sales lower at 4.02M annualized pace versus 4.13M estimate. The prior month was revised marginally higher to 4.27M. Lowest level since October 2024
• Decline -5.9% after rising 4.4% last month
• inventory/sales 4.0 months supply
• supply of homes is now 1.33 million
• median price is $403,700 up 2.7% year on year
• first-time buyer steady and 32%
• all-cash SALES 26% versus 28%

This article was written by Greg Michalowski at www.forexlive.com.