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April 19, 2024

Sluggish start for spring homebuying season

  • Home sales fell in March as mortgage rates rose.
    AP Business Writer

    LOS ANGELES — The spring homebuying season is off to a sluggish start as home shoppers contend with elevated mortgage rates and rising prices.

    Sales of previously occupied U.S. homes fell 4.3% in March from the previous month to a seasonally adjusted annual rate of 4.19 million, the National Association of Realtors said Thursday. That's the first monthly decline in sales since December and follows a nearly 10% monthly sales jump in February.

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