Existing Home Sales Fall 3%

Existing homes sales fell 3% in March, the National Association of Realtors said Thursday.

Sales declined to an annual rate of 4.57 million homes, the group said.

Economists had forecast home resales would fall to an annual rate of 4.65 million units, from 4.71 million in February, Bloomberg reported.

The March rate was higher than the 10-year low rate of 4.49 million set in January, Bloomberg said.

The median price of a home fell to from a year ago, to $175,200 from $200,100 a year ago, NAR said.