The seasonally adjusted pace of existing-home sales in the U.S. ticked up 5.1 percent in March to an annual rate of 5.33 million, but the year-over-year gain dropped to 1.5 percent, down from 2.2 percent higher in February and versus an 11.0 percent gain the month before.

At the same time, the median sale price ticked up to $222,700 in March versus $210,800 in February and $210,700 a year before. Up 5.7 percent on a year-over-year basis, the median sale price remains 5.8 percent below the record $236,400 set last June.

In terms of inventory, the number of unsold homes on the market across the country increased 5.9 percent to 1.98 million homes at the end of March but remains 1.5 percent lower versus the same time last year.

And in the West, the pace of existing-home sales ticked up 1.8 percent from February to an annual rate of 1.15 million sales in March but dropped from 0.9 percent higher to 2.5 percent lower versus the same time last year.

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