Home Resales Advance

Sales of previously owned homes rose in April and prices jumped, the latest indications that the hard-hit housing market is recovering.  Existing-home sales were up 3.4% from March to a seasonally adjusted annual rate of 4.62 million.  If the pace holds, 2012 could be the strongest year for home sales since 2007, just after the housing boom. The median home price, meanwhile, increased 10.1% from a year earlier to $177,400, the strongest year-to-year gain since January 2006.

Wall Street Journal  May 22, 2012