Triangle Business Today

Home sales jump for first time in months

Posted May 22, 2012

Existing home sales rocked the house Tuesday, according to the National Association of Realtors, increasing 3.4 percent in April. This is the first increase in three months and the highest level we’ve seen since May 2010.

We also saw an increase in the median price for existing homes, which jumped by 10.1 percent in year-over-year data for April. This is the largest year-over-year increase that we’ve seen since January 2006. The improvement in existing sales helps to solidify the fact that there is substance to the housing recovery this spring. Certainly our Triangle core housing fundamentals are getting stronger, and as they continue to improve, we’ll hopefully see sales improvements as well. Now we’ll see if we can continue this home sale momentum tomorrow with the release of the monthly New Home Sales Report.


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About this Blog:

Jeremy Salemson, CEO of Corporate Investors Mortgage Group, blogs about economic trends and data and their impact on Triangle business. Each week, he interviews a Triangle-area business leader for a personal look at the local economy.