By Greg Robb
Existing home sales rebound a bit in March WASHINGTON (MarketWatch) - Sales of existing single-family homes and condos rebounded by 3.7% in March to a seasonally adjusted annual rate of 5.1 million, the National Association of Realtors reported Wednesday. Economists surveyed by MarketWatch expected sales to rebound to 5.0 million units in March. Sales fell a revised 8.9% in February to 4.92 million units, up from the initial estimate of an 9.6% drop to 4.8 million units. The median price of homes sold was down 5.9% from last year at $159,600. Inventories of existing homes for sale rose 1.5% to 3.55 million, representing 8.4 months' supply, down from 8.5 months in February.
