March home sales constrained by tight inventory

Despite slight monthly decline, existing-home sales up 10.3% from a year ago

Existing-home sales slipped 0.6 percent from February to March as a lack of home inventory continued to constrain purchases, the National Association of Realtors (NAR) reported today. At a seasonally adjusted annual rate of 4.92 million, existing-home sales were still 10.3 percent higher than a year earlier, NAR said.