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Home Resales Up 11.3% in April to a 6 1/2-Year High

May 28, 1986|Associated Press

WASHINGTON — The decade's lowest mortgage rates pushed sales of existing homes in April to their fastest clip in 6 1/2 years, yielding the largest annual increase in median prices since 1981, an industry survey said Tuesday.

Those sales increased 11.3% from March to April for a seasonally adjusted annual rate of 3.56 million units, according to the National Assn. of Realtors' monthly survey.

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