Existing Home Sales Fall in March

Existing home sales fell 0.6% in March, the National Association of Realtors said Monday.

Sales fell to an annual rate of 4.92 million, the group said.

The level was below economists’ forecasts of a 5 million rate, Bloomberg reported.

The rate dropped in part because of a drop in the number of cheaper previously owned homes for sale compared with last year, Bloomberg said.