The report follows another one from the Census Bureau on Wednesday that said new home sales rose 7.4% in March and are up 6% from a year ago. The increase was driven by more affordable homes with the median sales prices dipping down 1.9% to $403,600. That is 7.5% below the price in March of last year.

Metro Phoenix home sales climbed in March as mortgage rates ticked down. Sales prices held steady even as the supply of Valley houses for sale soared. Home sales were up by more than 1,000 to 6,790 in March, according to the Arizona Regional Multiple Listing Service. That compares to 5,683 metro Phoenix home sales in February.

Home sales dropped 5.9% last month to a seasonally adjusted annual rate of 4.02 million units, the National Association of Realtors said on Thursday morning.