Sales of previously owned homes decreased 8.5%—the biggest month-over-month decline since 2015
WASHINGTON—Americans pulled back from purchases of previously owned homes in March as the coronavirus pandemic shut down much of the U.S. economy, triggering a decline in the biggest part of the housing market.
Sales of previously owned homes decreased 8.5% in March—the biggest month-over-month decline since November 2015—from the prior month at a seasonally adjusted annual rate of 5.27 million, the National Association of Realtors said Tuesday. Previously-owned homes make up most of the housing market.
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