Existing home sales slipped 0.8 percent in April, month over month, to an annual rate of 5.05 million units from a downwardly revised 5.09 million in March, the National Association of Realtors [NAR] reported Thursday. “The recovery is very sluggish,” said NAR senior chief economist, Lawrence Yun, adding that tight credit is needlessly continuing to restrain the struggling market.
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