The median selling price fell 0.9 percent from a year ago, the largest decline since 2012 and the second consecutive monthly decline.
Sales of existing homes fell 2.4 percent in March, partially reversing the surge of home sales in February.
The February surge was revised down slightly, to an annualized 4.55 million from the initial estimate of 4.58 million. The median price data, however, is distorted by the mix of homes sold in the month and is viewed as a less reliable indicator than data on repeat sales from the Case-Shiller index or the Federal Housing Finance Agency.
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