7.18 mln US homes sold in April 2005

Sales of existing homes rose in April 2005 to an annual pace of 7.18 mln, up from 6.87 mln in March 2005, according to National Association of Realtors. The overall sales rate set a record, surpassing the previous annualized high of 7.02 mln in June 2004. The nationwide median price on an existing home was $206,000 in April 2005, up 15.1% from a year earlier.