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Existing Home Sales Dip, Prices Rise

Business News

0  Updated at 1:17 pm, April 22nd, 2013 By: ABC Digital
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Phillip Spears/Digital Vision(WASHINGTON) — The nation’s housing rebound appears to have hit a slight speed bump. Sales of previously-owned homes dipped 0.6 percent last month as supply remained tight.

Still, the rate of sales last month was 10.3 percent higher than it was a year ago, according to a report from the National Association of Home Builders.

The median price of a home rose nearly 12 percent from February to March to just over $184,000 — the biggest one-month gain since 2005.

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