FX.co ★ US Existing Home Sales Slump the Most Since 2022

In March 2025, the sale of existing homes in the United States experienced a notable decrease of 5.6% from the previous month. This translated to a seasonally adjusted annual rate of 4.02 million units, falling short of market forecasts which anticipated 4.13 million units. This marks the most significant downturn in over two years. This decline occurred despite a modest reduction in benchmark borrowing costs during this period, which had led to an increase in mortgage applications. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), remarked, "The challenges of affordability driven by high mortgage rates have continued to impede home buying and selling activities in March. The current record low in residential housing mobility is an indication of a potentially concerning reduction in economic mobility for the society as a whole."