Source:
AP WASHINGTON (AP) -- First-time homebuyers looking for bargains snapped up about half of all homes sold last month, but the spring selling season is getting off to a lackluster start with sales falling more than expected from February levels.
Home sales fell 3 percent to an annual rate of 4.57 million in March month from a downwardly revised pace of 4.71 million units in February, the National Association of Realtors said Thursday.
Sales had been expected to fall to an annual pace of 4.7 million units, according to Thomson Reuters.
The results were "a little disappointing" given that homes are more affordable than they've been in years and mortgage rates are near record lows, said Lawrence Yun, the group's chief economist.....
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People are buying new or not at all. This tells me that sprawl will continue.