Home sales up 1% in March 2005, median home price in the US is $195,000

Sales of existing homes rose 1.0% in March to the third-highest level on record as an increase in single-family sales offset a dip in sales of condominiums, according to National Association of Realtors. Single-family home sales rose 1.2% in March to a 6.04 mln unit rate from a 5.97 mln unit rate in February. Condo sales fell 0.1% to a 845,000 unit rate from an 846,000 unit pace in February. The national median home price jumped 11.4% to $195,000 from March 2004.