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The National Association of Realtors released existing homes sales figures in the U.S. on Wednesday. Sales of existing homes climbed 5.1% to a seasonally adjusted annual rate of 5.33 million in March from 5.07 in February. February's figure was revised down from 5.08 million units.
Analysts had expected an increase to 5.30 million units.
"Buyer demand remains sturdy in most areas this spring and the mid-priced market is doing quite well. However, sales are softer both at the very low and very high ends of the market because of supply limitations and affordability pressures," the NAR chief economist Lawrence Yun said.
Sales to first-time buyers remained unchanged at 30% in March.
"With rents steadily rising and average fixed rates well below 4 percent, qualified first-time buyers should be more active participants than what they are right now," Yun said.
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