Single-family home resales set a record in March, rising to a seasonally adjusted rate of 5.05 million, the National Association of Realtors said.

Low unemployment rates, low mortgage rates, and higher incomes are encouraging people to buy, the trade group reported.

The "months ahead look very strong," said Realtors association president Sharon A. Millett. Solid economic conditions will continue to fuel the market, said the association's economist, James F. Smith.

Nontraditional buyers, such as single people, continue to enter the market, boosting the starter-home segment, Ms. Millett said.

The median price for resold single-family homes was up 4.4% from a year earlier, to $132,700, the association said.

Home sales were strongest in the West, at a rate of 1.1 million units, up 6.8% from a year earlier.

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