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The median price for a home sold in May was $182,600, up 5.1 percent from $173,700 in April. It was the highest median price since June 2010
-- when sales benefited from a federal home-buying tax credit. Home sales neared a two-year high in April, adding to other signs of modest improvement in the industry nearly five years after the housing bubble burst. Builders are more confident and are starting to build more homes. The government reported Tuesday that builders started work on more single-family homes in May and requested the most permits to build homes and apartments in three and a half years. Home sales rose 1 percent in the Midwest, the only region to show an increase. Sales fell 4.8 percent in the Northeast, 3.4 percent in the West and 0.6 percent in the South.
[Associated
Press;
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