Cleaning & Restoration Breaking News

U.S. existing home sales slide in March

WASHINGTON, April 25 (Reuters) - Sales of existing U.S. homes slid 5.6 percent in March, the National Association of Realtors said on Friday, logging their second straight fall from a record pace in January as war-linked uncertainty, economic weakness and chill weather dampened activity.

Sales of previously owned homes fell to a seasonally adjusted annual rate of 5.53 million units from an upwardly revised 5.86 million unit pace in February, NAR said.

The sales pace fell short of expectations of analysts polled by Reuters, who, on average, had expected a 5.77 million unit clip. It was the largest drop since a fall of 8.8 percent in June of last year.

"It's due to the weak economy, to the uncertainty surrounding the war and to poor weather," said David Lereah, chief economist for the Realtors.

The median existing home sales price in March was $163,100, up 6.5 percent from the same month the prior year.

Inventories rose to five months' supply of homes on the market from 4.4 months in February.

Consumer spending and the strong housing market have been two mainstays of the U.S. economic recovery with business spending yet to pick up appreciably. Droves of homebuyers were lured by mortgage rates at levels not seen since the early 1960s.

Did you enjoy this article? Click here to subscribe to i Cleaning Specialist Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

The 2014 Experience Conference and Exhibition

A look in photos at the 2014 Experience Conference and Exhibition, which was held from April 24-26 at the Embassy Suites Convention Center and Spa in Frisco, Texas.

Podcasts

Beginning April 21, Google will start judging websites based on their mobile friendliness. What exactly does this mean to you cleaning website? Find out in the latest edition of The Hitman Advertising Show, which will also cover tips and suggestions on getting mobile compliant.
More Podcasts

ICS Cleaning Specialist Magazine

CoverImage

2015 April

The April ICS issue features content on concrete polishing, green cleaning, air duct cleaning, injection sprayers and new products.

Table Of Contents Subscribe

Janitorial Work

In addition to residential and commercial carpet cleaning, do you do any janitorial work on the side?
View Results Poll Archive

THE ICS STORE

FinalCover.gif
The Carpet Cleaner's Book of Unlimited Success! (ebook)

Don’t worry about the recession or about your competition.  Now you can be the owner of over 400 ways for carpet cleaning professionals to make more money and get more jobs!

More Products

ICS DIRECTORY AND BUYING GUIDE

Director_Buyer.jpgThe premier resource and reference guide for the cleaning and restoration industries.

Click here to view

STAY CONNECTED

facebook_40.png twitter_40px.png youtube_40px.png

TRUCKMOUNT EQUIPMENT AND ACCESSORIES GUIDE

Truckmount.jpgEquipment listings and specifications from the leading industry manufacturers.

Click here to view