Existing home sales fell in March, as higher interest rates continued to put pressure on borrowers, but some analysts believe that the housing market slump is nearing an end.
Rising mortgage rates last month were a likely factor in deterring buyers by adding downward pressure on housing values, as fewer borrowers can afford higher payments.
Home sales fell 2.4 percent, to a seasonally adjusted annual rate of 4.44 million units last month, the National Association of Realtors (NAR) reported on April 18, after a 13.75 percent boost in the previous month.
Economists polled by Reuters had projected home sales falling to a rate of 4.50 million units….