Existing Home Sales Rise 3.7%

Existing home sales rose in March from a nine-year low, the National Association of Realtors said Wednesday.

The 3.7% increase to annual rate of 5.1 million homes topped economists forecasts of an increase to 5 million, Bloomberg reported. February’s 4.88 million rate had been the lowest since 2002.

The median price of existing homes fell 5.9% from a year ago to $159,600.

Sales rose in three of four national regions, with the exception of the West.