Existing home sales declined for the second straight month in March. The National Association of Realtors® (NAR) said single-family homes, townhomes, condos, and cooperative apartments sold at a seasonally adjusted annual rate during the month of 6.01 million units. This is down 3.7 percent from February’s sales pace, but still marks an increase of 12.3 percent from the March 2020 rate of 5.35 million. The two-month downturn has reduced the annual sales rate by more than 600,000 units since January. Sales of single-family homes dropped 4.3 percent compared to the prior month to a rate of 5.54 million, 10.4 percent more than a year earlier. Condo and co-op sales rose 1.4 percent and were 29.1 percent higher year-over-year.

 

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