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.

Existing home sales, which measure the change in the number of existing residential buildings sold, fell to a seasonally adjusted annual rate of 4.02 million in March. The figure was lower than estimates of 4.14 million, while the February figure was slightly revised up to 4.27 million.