US existing home sales fell -5.9% MoM and -2.4% YoY to a SAAR of 4.02 million in March, slightly below expectations of a drop to 4.13 million and the weakest since October 2024.

• Single-family home sales fell -6.4% MoM and -2.2% YoY, and condo/co-op sales were flat MoM but down -5.0% YoY.
• The median existing-home sales price climbed 2.7% YoY to $403,700, an all-time high for the month of March and the 21st consecutive month of year-over-year price increases.
• The inventory of unsold existing homes jumped 8.1% MoM to 1.33 million at the end of March, or the equivalent of 4.0 months' supply at the current monthly sales pace, up from 3.5 months’ supply last month and 3.2 months’ supply a year ago.
• According to the monthly REALTORS Confidence Index, properties typically remained on the market for 36 days in March, down from 42 days in February but up from 33 days in March 2024.
• First-time buyers were responsible for 32% of sales in March, up from 31% in February 2025 and identical to March 2024.
• Distressed sales, foreclosures and short sales, represented 3% of sales in March, unchanged from February and up from 2% the prior year.