Real Estate News | North America Residential News

The number of existing home sales dipped in March from the previous month, but prices continued to rise, according to the latest data from the National Association of Realtors.

The volume of sales slipped 0.6 percent from February, but was still 10.3 percent higher than March a year ago. NAR blamed the month-to-month drop on "inventory constraints," which also pushed up prices.

The national median price for an existing home was $184,300 in March, an 11.8 percent increase from the same month a year ago. The price increase was the largest year-over-year jump since November, 2005, NAR reports.

Prices have now risen year-over-year for 13 consecutive months.