Existing home sales rise – The Business Journal of Milwaukee:

The says existing home salew rose 2.9 percent from March to an annual paceof 4.68 milliomn units. The biggest jump in sales last montbh was the market for condosand coops, up 6.4 percenr from March. "Most of the sales are takin place in lower price ranges and activitg is beginning to pick up in the midprice but high-end home sales remain sluggish," said NAR chief economist Lawrence Yun. "The needs to help restorew liquidity for the jumbo mortgage market by buying thes loans under theTALF program." The number of firsft time buyers declined to 40 percengt in April, a sign that NAR says indicateds more repeat buyers are gettingy back into the market.
And the number of peoplw actively looking for a home to buy is up 14 percenty from ayear ago. Foreclosure sales get some of the credir for the increase inexisting sales. But so do other factors working in favor of thehousing market. Mortgagre rates remain historically low, with the average rate on a 30year fixed-ratew mortgage below 5 percent for 10 straight according to (NYSE: FRE). The NAR also believes the $8,000 first-timse homebuyer tax credit will lift sales this Even so, there are a lot of homes for sale out NAR figures show the number of existingv home currently on the market nationwidse rose 8.8 percent in April to 3.97 That represents a 10.
2 month supply, NAR
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