Existing-home sales in March fell 5.9% from February’s level to a seasonally adjusted annual rate of 4.02 million in March, according to National Association of Realtors data.

U.S. existing home sales fell more than expected in March, weighed down by higher borrowing costs, and further weakness is likely as growing concerns of an economic slowdown because of tariffs sap demand.

On a year-to-date basis, sales were up 1.3% compared to the first three months of last year, which suggests sales are still trending positive. That said, the modest growth this year largely is attributable to the South region,