by Wolf Richter
Wolf Street
Price reductions of existing homes jump to 31.7% of active listings, highest since 2017.
Sales of existing homes always jump from February to March. And closed sales rose this March as well but not nearly as much as they normally rise in March, and year-over-year they were down again, and month-to-month on a seasonally adjusted basis, sales also fell.
Actual sales, not seasonally adjusted, rose to 324,000 homes in March, according to data from the National Association of Realtors (NAR) today. This was down by 9.7% from March 2023 and by 28.9% from March 2022: