Sales of existing U.S homes rose in April for the first time in three months, indicating the industry is stabilizing. Purchases of previously owned houses, tabulated when a contract closes, increased 3.4 percent to a 4.62 million annual rate, figures from the National Association of Realtors showed today in Washington. The median forecast of economists surveyed by Bloomberg News called for a rise to a 4.61 million rate. Gains in employment, depressed prices and record-low mortgage rates may bring more properties within reach of buyers, eliminating a source weakness for the world’s largest economy just as risks from ... (full story)