Real Estate Outlook: Existing Home Sales Rise, an article from RealtyTimes.com, reports that there is positive economic news this week.  Sales of existing homes last month rose for the first time in half a year, adding evidence that the housing cycle may be bottoming out after nearly three years of correction.  The national gains in resales for single family homes was 2.8% and 3.7% for condominiums.  The latest sales increases were also accompanied by a decline in the national median price of homes sold.  The median price is down 8.2% from last year.   More affordable, realistic prices is going to bring out buyers that have been on the fence and help to burn off that 10-month overhang of unsold houses on the market.  Another factor helping to increase sales is low-cost mortgage money.

http://realtytimes.com/rtpages/20080327_realestateoutlook.htm

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