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Price Declines Boost Existing Home Sales
Sales of existing homes increased in April, as buyers swooped in to take advantage of prices that were 15.4% below year-ago levels. The National Association of Realtors said existing home sales rose 2.9% to an annual rate of 4.68 million last month, from a downwardly revised pace of 4.55 million in March. The NAR said the median sales price of an existing home plunged to $172,000 from $201,300 in the same month last year. That was the second-largest drop on record after the 17.5% price drop in January.
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Date Last Updated: 05/28/2009
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