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Existing home sales fell 4.3% in March from February to a seasonally adjusted annual rate of 4.19 million. That was more than the 4.1% decline economists had been expecting. Sales were down 3.7% from a year ago, according to the data from the National Association of Realtors. Sales fell in the Midwest, South, and West, while sales in the Northeast rose for the first time since November 2023. Inventories, however, grew 4.7% from February to a supply of 3.2 months. In the release, NAR Chief Economist Lawrence Yun argues rates are the reason for the decline, saying "Though rebounding from cyclical lows, home sales are stuck because interest rates have not made any major moves." Yahoo Finance's Seana Smith reports the breaking data. For more expert insight and the latest market action, click here to watch this full episode. This post was written by Stephanie Mikulich.