Since last fall, home sales have held relatively steady at an annualized rate of 5 million a year -- about a million fewer than during the go-go years of the real estate boom.
The National Association of Realtors' most recent report shows that:
The seasonally adjusted annualized selling rate for all homes -- including single-family houses, town homes, condominiums and co-ops -- fell to 4.93 million in March. That's down from 5.03 million in February but up from 4.89 million in January and 4.91 million in December.
The median sales price for all housing types rose to $200,700 from $195,900 in February. But that was 7.7% lower than in March 2007 when the median price was $217,400. Find out more about how home prices are changing in more than 140 cities across the country.
There are now 4.06 million homes on the market, up from 4.03 million in February.
That's far more than usual -- a key advantage for most buyers. It would take 9.9 months to move all the homes on the market at March's sales rate.
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