Housing market sales rise 13 percent nationwide
BY DEREK KRAVITZ THE ASSOCIATED PRESS Las Vegas' supply is down to 2.8 months, Murphy noted. WASHINGTON -- The housing market is flashing signs of health ahead of the spring-buying season. Sales of previously occupied homes are at their highest level since May 2010. More first-time buyers are making purchases. And the supply of homes fell last month to its lowest point in nearly seven years, which could push home prices higher. Sales have now risen nearly 13 percent over the past six months. While they are still well below the 6 million that economists equate with a healthy market, the gains have coincided with other changes in the market that suggest more sales are coming. "The trend is clearly upward," said Ian Shepherdson, chief U.S. economist at High Frequency Economics. The National Association of Realtors said Wednesday that resales increased 4.3 percent last month to an annual rate of 4.57 million. Single-family home sales rose 3.8 percent. And the...