US existing home sales fell 4.3% in March to 4.19 million units due to high mortgage rates and prices.

US existing home sales dropped 4.3% in March, reaching a seasonally adjusted annual rate of 4.19 million units, as high mortgage rates and prices keep buyers sidelined. The National Association of Realtors reported that sales decreased in the South, Midwest, and West, while rising in the Northeast. Home resales declined 3.7% year-over-year, with median prices reaching a record high in March.