US: Existing Home Sales fall by 2.7% in March to 5.77M, below expected 5.8M

The US Existing Homes Sales unit rate fell by 2.7% MoM in March, the latest data release by the National Association of Realtors revealed on Wednesday. That meant the 12-month rolling number of sales (the unit rate) fell to 5.77M in March, below the economist consensus for 5.8M, marking a decline from February's unit rate of 5.93M. 

The median house price continued to rise and came in at $375.3K in March. The number of units available rose a little to 0.95M in March from 0.85M a month earlier. 

Market Reaction

FX markets did not react to the latest broadly as expected US home price data.