Sales of existing homes rose 1.0% in March to 6.890M versus Consensus expectations for sales of 6.78M.

Improved methodology, better modeling and the addition of condo & co-op sales affected the figures back to 1999. The data reflect closings of home sales in earlier months.

Single-family home sales increased 1.2% in March but remained 1-2% off last year's highs.

Single family home sales rose m/m across the country's regions. In the Northeast sales improved 1.2% (3.7% y/y) and in the Midwest sales rose 1.5% (2.2% y/y). Sales in the South increased 0.9% (5.4% y/y) and in the West sales rose 1.4% (5.7% y/y).

The median price of an existing single family home rose sharply m/m to $193,600 (+11.3% y/y).

The latest release from the National Association of Realtors is available here.