Existing Home Sales See 6.8 Percent Uptick

Washington, DC, April 22, 2010—Existing home sales rose 6.8 percent in March, according to the National Association of Realtors. In total, 5.35 million units were sold.

This number includes completed transactions of single-family homes, townhomes, condominiums and co-ops. March 2010 sales are 16.1 percent over the March 2009 sales of 4.61 million. This year’s numbers were likely boosted by the home buyer tax credit. The Northeast and Midwest showed modest gains; sales in the South and West were slower.

Lawrence Yun, National Association of Realtors, chief economist, notes that. “Sales have been above year-ago levels for nine straight months, and inventory has trended down from year-ago levels for 20 months running."