Sales of new single-family homes declined 0.6 percent from February's revised rate of 358,000.
March's rate is just slightly down from February, but 30.6 percent below March 2008, when home sales were at an adjusted rate of 513,000.
The median sales price of a new home sold in March was $201,400 with an average price of $258,000, the Commerce Department said.
The department said the seasonally adjusted estimate of 311,000 new homes that were on the market in the United States at the end of the month would take 10.7 months to sell at the current pace of sales.
Copyright 2009 by United Press International.
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