Existing Home Sales Highest Since 2009

Washington, DC, May 22, 2013 -- Existing-home sales rose 0.6% in April to a seasonally adjusted annual rate of 4.97 million, according to the National Association of Realtors.

It was the highest rate since November 2009, when a buyer tax credit was about to expire.

Sales in April were 9.7% higher than April a year ago.

Also, median prices hit $192,800 in April, the highest since 2008, up 11% from a year ago.

The supply rose to 5.2 months in April from 4.7 months in March. Distressed property sales declined to 18% of all sales in April.