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April home sales better than anticipated

May 27, 2009 @ 6:43 AM |

Wed May 27, 2009 11:04am EDT

NEW YORK (Reuters) - The pace of sales of existing homes in the United States rose 2.9 percent in April, according to an industry survey on Wednesday that supported views the three-year housing recession was near a bottom.

KEY POINTS: * The National Association of Realtors said sales climbed to an annual rate of 4.68 million, from a downwardly revised 4.55 million pace in March, initially reported as 4.57 million. That was slightly higher than market expectations for a 4.66 million-unit pace. * The inventory of existing homes for sale rose 8.8 percent to 3.97 million. The median national home price fell 15.4 percent to $170,200, compared to the same period a year-ago.  Read more…

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