April Existing Home Sales Up 2.9% May 28, 2009

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Sales of previously occupied homes in the United States increased 2.9% from March to April, according to the National Association of Realtors. The median sales price fell to US$170,200, down from $201,300 in the same month last year. That was the second-largest price drop on record after January, when prices fell 17.5%.

The number of unsold homes on the market at the end of April rose almost 9% from a month earlier to nearly 4 million.

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