In March, US existing-home sales dropped 3.6%, marking the slowest pace for this month since 2009. This decline has raised concerns about the economic outlook for the year amid fears stemming from the ongoing Iran war and rising mortgage rates. At the same time, home prices continue to rise, putting further strain on buyers. The National Association of Realtors reported that existing-home sales fell to a nine-month low of 3.98 million, below the expected figures. Realtors are slashing their sales forecasts as tight inventory and less buyer confidence contribute to a sluggish spring homebuying season. The current market is being influenced by a difficult economic backdrop, leading to a cautious approach from both buyers and sellers.