Home Sales Continue Slide in March

Washington, DC, April 22, 2008--Sales of previously owned homes fell in March while the median home price declined, as the housing market slump continued.

The National Association of Realtors said Tuesday that sales of existing single-family homes and condominiums dropped by 2 percent in March, less than economists expected, to a seasonally adjusted annual rate of 4.93 million units.

The median price of a home sold last month dropped to $200,700, a decline of 7.7 percent from the median price a year ago. That was the second-biggest year-over-year price decline on records dating back to 1999.