Sell now or hold out for a higher price?

In some markets, economic conditions hint at housing recovery

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Recent news suggests that the housing market might be moving in the right direction. According to the National Association of Realtors (NAR), existing-home sales rose 3.4 percent in April compared to March and were 10 percent higher than a year ago.

The inventory of homes for sale increased 9.5 percent at the end of April to a 6.6-month supply, up from a 6.2-month supply in March. A year ago, there was a 9.1-month supply of inventory solidly in a buyer’s market range. Nationally, homes listed for sale in April were 20.6 percent below a year ago, approaching a balanced market that gives neither buyer nor seller a decided advantage.