Existing U.S. Home Sales Fall on Limited Inventory: Economy
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Previously owned U.S. home sales unexpectedly dropped in March as a lean supply of properties kept the industry from generating a stronger recovery.
Purchases of existing houses, tabulated when a contract closes, fell 0.6 percent to a 4.92 million annual rate, figures from the National Association of Realtors showed today in Washington. The median forecast of 75 economists surveyed by Bloomberg projected sales would increase to a 5 million rate.