Home sales pick up but not enough to clear inventory

05/28/2009 | NYTimes.com

The number of unsold single-family homes, townhouses and condominiums climbed in April to 3.97 million, the highest level since November, the National Association of Realtors reported. Nationally, sales of existing homes rose 2.9% last month, an increase from March but a 3.5% drop from April 2008.

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