Existing-home sales, prices up in March

For-sale inventory declines nearly 22 percent from a year ago

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Sales of existing homes slipped from February to March after an adjustment for seasonal variations, but were up from the same time a year ago, according to the latest monthly report from the National Association of Realtors.

Sales of single-family homes, townhouses, condominiums and co-ops rose 5.2 percent year over year last month, to a seasonally adjusted annual rate of 4.48 million. That’s a 2.6 percent decline from February.