Total existing-home sales ?EUR??,,????'??? including single-family, townhomes, condominiums and co-ops ?EUR??,,????'??? rose 0.3 percent to a seasonally adjusted annual rate of 6.92 million units in March from a pace of 6.90 million in February, but were 0.7 percent below a 6.97 million-unit level in March 2005.

?EUR??,,????'??It?EUR??,,????'???s a good sign to see home sales holding close to the level of a strong rebound in the month before,?EUR??,,????'?? David Lereah, NAR?EUR??,,????'???s chief economist said. ?EUR??,,????'??This is additional evidence that we?EUR??,,????'???re experiencing a soft landing. We may see some minor slowing in home sales as interest rates rise, but the market clearly is stabilizing.?EUR??,,????'??

Total housing inventory levels rose seven percent at the end of March to 3.19 million existing homes available for sale, which represents a 5.5-month supply at the current sales pace.

?EUR??,,????'??Most buyers in today?EUR??,,????'???s market are well-informed and have agents that represent their interests, so sellers need good advice on how to show and market their homes in the current environment, as well as negotiation skills ?EUR??,,????'??? critical values that real estate agents bring to the table,?EUR??,,????'?? said NAR President Thomas M. Stevens.

Single-family home sales rose 0.3 percent to a seasonally adjusted annual rate of 6.07 million in March from 6.05 million in February, and were 0.5 percent below the 6.10 million-unit pace in March 2005. The median existing single-family home price was $217,300 in March, up 7.8 percent from a year ago.

Existing condominium and cooperative housing sales increased 0.2 percent to a seasonally adjusted annual rate of 854,000 units in March from a level of 852,000 in February, but were 2.0 percent below the 871,000-unit pace a year ago. The median existing condo price3 was $225,500 in March, up 6.1 percent from March 2005.

Regionally, existing-home sales in the Northeast rose 1.7 percent to an annual sales rate of 1.19 million units in March, and were 2.6 percent higher than a year ago. The median price in the Northeast was $275,000, up 5.0 percent from March 2005.
Existing-home sales in the Midwest increased 1.2 percent to a pace of 1.63 million in March, and were 3.8 percent above March 2005. The median existing-home price in the Midwest was $160,000, up 2.6 percent from a year earlier.

In the South, existing-home sales slipped 0.7 percent in March to a level of 2.67 million, but were 1.5 percent higher than a year ago. The median price in the South was $181,000, up 6.5 percent from March 2005.