By Judy Szablak
The National Association of Realtors latest report shows existing home sales rose 3.4 percent in April over March of this year, and a 10 percent increase over last year at this time.
This home at 2 Joanne Circle is listed at $2,599,000. (CLICK TO ENLARGE) Photo courtesy of William Raveis Real Estate/Westport
Existing home sales in the Northeast rose 5.1 percent in April, and are 19.2 percent higher than one year ago. The median price in the Northeast is also up 8.8 percent from April 2011.
The group’s chief economist, Lawrence Yun, indicated that the housing recovery is underway. “It is no longer just the investors who are taking advantage of high affordability conditions,” he said. “A return of normal home buying for occupancy is helping home sales across all price points, and now the recovery appears to be extending to home prices,”
Meanwhile, the U.S. Commerce Department said today that U.S. home sales increased 3.3 percent in April from March to a seasonally adjusted annual rate of 343,000. It said demand for new homes was stronger than anticipated.





