Inventory increased, pending home sales in the United States rose in March.

In March, the inventory of existing homes for sale in the United States continued to rise for the second consecutive month, thanks to an increase in stock levels, mitigating the impact of rising borrowing costs. The pending home sales index in the United States rose by 1.5% in March, reaching a four-month high of 73.7, with an average forecast of a 0.5% increase. Lawrence Yun, chief economist of the National Association of Realtors, said in a statement, "Despite rising mortgage rates, home sales contracts increased in March, indicating pent-up demand for home purchases. More housing supply will help convert this demand into more home sales."