US existing home sales fall more than expected in March
1. Existing home sales fell 5.9% in March, surprising economists. 2. Higher mortgage rates and tariffs are affecting housing market demand. 3. Home inventory increased 8.1% while sales declined year-on-year. 4. First-time buyers remain stagnant at 32% of sales. 5. Economic uncertainty exacerbated by tariffs is concerning for the market.