U.S Existing Home Sales at 4.62M, Increased in April by 3.4% - 22.5.2012

Existing Home Sales index for April rose to 4.62 million annually from the revised 4.47 million in March as the National Association of Realtors reported today. In other words sales of existing U.S homes increased on monthly basis by 3.4 per cent, higher than expected while in March it dropped by 2.8 per cent. Low mortgage rates and gains in employment are expected to increase the sale of properties as it is increasing demand and supporting recovery. Tomorrow the New Home Sales index is due and is expected to increase compared to the previous month sales. Housing market shows signs of further improvement and a weakening factor for the U.S economy has a reducing negative effect. The Dollar index rose to the 81.37 resistance level from 81.06 level that opened on Tuesday morning, it was lastly seen at 81.22.