Durham bucks national housing trend

Durham is among a list of areas showing "healthy price gains" in existing homes amid a nationwide slump, a national organization says.

The National Association of Realtors says that seasonally adjusted home sales dropped 2 percent in the month to an annual rate of 4.93 million units. The median sales price of an existing home dropped year over year by 7.7 percent, to $200,700, NAR said.

The Realtors' association does not adjust prices for seasonal effects.

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But while Triangle home prices were essentially flat in March, according to the Triangle Multiple Listing Service, Durham County outpaced the area with 1.3 percent yearly growth.

Other areas with growth includes Des Moines, Iowa, and Austin, Texas.

"Though mortgage rates are at historically low levels, some borrowers are facing restrictive lending practices in declining markets," Lawrence Yun, NAR chief economist, said in a statement. "At the same time, many buyers continue to bide their time with a large number of homes to choose from, while other potential buyers remain on the sidelines."