Dwindling inventory slows sales of existing homes

A tightening supply of existing homes in the U.S. largely was responsible for a 0.6% decline in sales between February and March, analysts say. The National Association of Realtors says existing-home sales eased to an annual rate of 4.92 million. The number of potential buyers increased 25% last month compared with March 2012, but the inventory of houses for sale decreased 17%.

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