News Summary: US sales of previously occupied homes rose 3.4 percent in April
By Associated Press, Updated: Tuesday, 2012-05-22
WIDESPREAD GAINS: Sales rose in every part of the county, pushing activity to a seasonally adjusted annual rate of 4.62 million units, nearly matching January’s pace, which had been the best in two years.
OUTLOOK: Economists believe an improving job market and cheaper mortgages will provide support for modest gains in home sales this year. But they say sales will remain far below the 6 million rate that indicates a healthy market.
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