WASHINGTON (AP) — First-time homebuyers looking for bargains snapped up about half of all homes sold last month, but the spring selling season is getting off to a lackluster start with sales falling more than expected from February levels.

The median sales price in March was $175,200, a plunge of 12.4 percent from a year ago, but higher than February’s median price of $168,200. While median sales prices typically rise slightly in early spring, the 4 percent monthly increase was larger than expected.

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Also see where NY city is with respect to House Price to Median Income.

Posted: 04|23|09 at 12:48 pm. Filed under: Economy, Housing. Pinging is currently disabled.