By Rex Nutting
WASHINGTON (MarketWatch) - Boosted by a federal subsidy to buyers, resales of U.S. homes and condos rose 6.8% in March to a seasonally adjusted annual rate of 5.35 million, a real estate trade group reported Thursday. Sales were up 16.1% compared with March 2009. Existing-home sales rose in all four regions of the country in March. "The tax credit has done its work," said Lawrence Yun, chief economist for the National Association of Realtors, said in releasing the data. Median home prices rose 0.4% in the past year to $170,700, the NAR said. Inventories of unsold homes increased 1.5% in March to 3.58 million, an 8-month supply at the current sales pace.
