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News & Information: Real Estate News

National sales, median rise yet again

Tuesday, May 22, 2012  
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Existing-home sales rose in April and remain above a year ago, while home prices continued to rise, according to the National Association of REALTORS®. The improvements in sales and prices were broad based across all regions.

Total existing-home sales are 10.0 percent higher than in April 2011. Lawrence Yun, NAR chief economist, says the housing recovery is underway. "It is no longer just the investors who are taking advantage of high affordability conditions. A return of normal homebuying for occupancy is helping home sales across all price points, and now the recovery appears to be extending to home prices,” he says. "The general downtrend in both listed and shadow inventory has shifted from a buyers’ market to one that is much more balanced, but in some areas it has become a seller’s market.”

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