WASHINGTON, April 13 (Reuters) – U.S. existing home sales fell to a nine-month low in March amid tight inventory and growing concerns over the labor market, and a recent increase in mortgage rates because of the ?war with Iran could limit activity this year.

The larger-than-expected decline in sales reported by the National Association of Realtors on Monday was despite an improvement in housing ?affordability at the start of the year. The U.S.-Israeli conflict with Iran, which has boosted gasoline prices and caused a stock market selloff, is undercutting household purchasing power and wealth.