U.S. March Existing-Home Sales Drop on Tight Supply — 2nd Update
Provided by Dow Jones By Nicole Friedman The relentless climb in U.S. home prices and tightening supply threaten to cool the hottest housing market in 15 years, sending frustrated home buyers to the sidelines. The median price for existing home sales rose to $329,100 in March, a new high according to the National Association of Realtors. Prices soared 17.2% last month from a year earlier, marking the biggest price increase in NAR data going back to 1999. Steepening prices, combined with a scarcity of inventory that has left the U.S. housing market millions...