Existing home sales rise - Dayton Business Journal:

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The said existing home salesw rose 2.9 percent from March to an annuaol paceof 4.68 million units. The biggest jump in salees last month was the market for condossand coops, up 6.4 percent from "Most of the sales are taking place in lowere price ranges and activity is beginnint to pick up in the midpricwe ranges, but high-end home sales remai sluggish," said NAR chief economisty Lawrence Yun. "The needs to help restore liquidity for the jumbo mortgage market by buying these loans under theTALF program.
" The number of first-time buyerds declined to 40 percent in a sign that NAR said indicates more repea buyers are getting back into the And the number of people actively looking for a home to buy is up 14 percengt from a year ago. Foreclosure sales get some of the crediyt for the increase inexistingf sales. But so do othedr factors working in favor of thehousint market. Mortgage rates remain historically low, with the average rate on a 30year fixed-rate mortgage below 5 percent for 10 straight according to (NYSE: FRE). The NAR also believesa the $8,000 first-time homebuyer tax credit will lift salethis spring. Even so, therd are a lot of homex for saleout there.
NAR figures show the numbert of existing home currentlyu on the market nationwiderose 8.8 percent in Aprio to 3.97 million. That representas a 10.2 month supply, NAR says.