Existing home sales likely fell by 1.0% to a 4.57 million unit rate in March. Pending home sales have remained weak, with a 0.8% decline in February after a 0.2% decline in January, suggesting limited momentum for completed sales. With fewer pending contracts in the pipeline, the pace of existing home sales is likely to have remained soft in March. Total housing inventory was up in February, although the number of homes for sale was still low, indicating that constraints on the supply side are also likely to continue to hold back the sales pace. New home sales likely rose by 2.3% in March to a 440K pace. Information ... (full story)