Existing-home sales rose in April but remain below underlying demand because of limited inventory and tight credit, according to the National Association of Realtors®. All regions are showing strong price gains from a year ago. Total existing-home sales1, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 0.6 percent to a seasonally adjusted annual rate of 4.97 million in April from an upwardly revised 4.94 million in March. Resale activity is 9.7 percent above the 4.53 million-unit level in April 2012. Lawrence Yun, NAR chief economist, said the market is ... (full story)