Tuesday, May 22, 2012
Americans bought more previously owned homes in April, a hopeful sign that the weak housing market is gradually improving.
The National Association of Realtors says home sales rose 3.4 percent last month to a seasonally adjusted annual rate of 4.62 million.
That still lags January and February's pace — which was the best for those months in five years. And it well below the nearly 6 million per year that economists equate with healthy markets.
A mild winter encouraged some people to buy homes earlier. That drove up sales in January and February, while making March weaker.
The median price for homes sold in April rose to $177,400, up 10.1 percent from a year ago.