Existing Home Sales Dip, Prices Rise

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.

Copyright 2013 ABC News Radio

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