May 22nd, 2014 3:55 PM by Leonard Silvestri
According to the NAR the national state of home sales are looking up. April's data reported an increase in home resales to 4.65 million units. This news sheds a positive light on the current state of real estate. It also provides an optimistic outlook of the consistent improvement of the U.S. housing market.U.S. home resales rose in April and the supply of properties on the market increased, suggesting the housing market was regaining its footing.
The National Association of Realtors said on Thursday existing home sales increased 1.3 percent to an annual rate of 4.65 million units, marking the second increase in sales in nine months. While that was a bit less than the 4.68-million unit pace that economists had expected, it was a hopeful sign for a sector that stumbled in the second half of 2013, under the weight of higher mortgage rates and house prices.
Sales are still down 15 percent from a peak of 5.38 million units hit in July. Compared to April last year, sales were down 6.8 percent.