Existing-home sales managed to pull off a 1.7% increase in April in spite of ongoing inventory shortages and faster price growth, according to the National Association of Realtors.
Total existing-home sales came in at a seasonally adjusted annual rate of 5.45 million, compared to an upwardly revised 5.36 million in March. That’s 6.0% ahead of April 2015. Single-family home sales rose 0.6% to a seasonally adjusted annual rate of 4.81 million in April from 4.78 million in March, and are now 6.2% higher than year-ago levels.
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