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The says existing home saless rose 2.9 percent from March to an annual paceof 4.68 million units. The biggest jump in sales last month was the market for condosand coops, up 6.4 percengt from March. "Most of the salea are taking place in lowetr price ranges and activity is beginning to pick up in themidpricwe ranges, but high-end home sales remain sluggish," said NAR chief economisty Lawrence Yun. "The needs to help restord liquidity for the jumbo mortgage market by buyingv these loans under theTALF program.
" The number of firsft time buyers declined to 40 percent in April, a sign that NAR says indicatesw more repeat buyers are getting back into the And the number of peopld actively looking for a home to buy is up 14 perceng from a year ago. Foreclosure sales get some of the credit for the increase inexisting sales. But so do otherf factors working in favor of the housing Mortgage rates remainhistorically low, with the average rate on a 30 year fixed-rate mortgage below 5 percent for 10 straighgt weeks, according to (NYSE: FRE). The NAR also believesd the $8,000 first-time homebuyed tax credit will lift saleethis spring. Even so, there are a lot of homesa for saleout there.
NAR figures show the numberf of existing home currently on the market nationwiderrose 8.8 percent in April to 3.97 That represents a 10.2 month NAR says.
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