Dips In Home Sales, Key Indicators Cloud Recovery

[Purveyor]

Sales of previously occupied homes dropped 0.8 percent in April, and the index of leading economic indicators fell 0.3 percent, the first decline since last June — signaling possible bumps in the economic recovery. Meanwhile, mortgage rates fell to their lowest point this year.

Activity among first-time homebuyers increased and foreclosure sales declined, but those factors weren't enough to signal a recovery in the weak housing market.

Sales of previously occupied homes fell last month to a seasonally adjusted annual rate of 5.05 million units, the National Association of Realtors said Thursday. That's far below the 6 million homes a year that economists say represents a healthy market.

Purchases made by first-time homebuyers rose 3 percent to 36 percent. That's still below the 40 percent that the trade group says is consistent with better markets.

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http://www.npr.org/2011/05/19/136460624/dips-in-home-sales-key-indicators-cloud-recovery

[bemildred]

1. Spring declines in Home Sales, Key Indicators mark end of "Recovery". nt

[Peter1x9]

2. what recovery?

n/t

[CanonRay]

3. What home sales?

There isn't squat selling here.