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Web Extra: New Home Sales Increase in April

After several disappointing months, new and existing home sales finally picked up in April.
NBC News -- After several disappointing months, new and existing home sales finally picked up in April.

"In a lot of markets around the country, particularly on the West Coast, homes are moving very fast off the market," notes Trulia's Jed Kolko, "Especially at the low end, the low end houses are moving fastest."

Fastest means they're on the market for only two months.

However, not all homes for sale are taken off the market because they've sold.

"A lot of the new housing demand that we're seeing today is young people looking for urban rental, not people looking to buy for the first time," Kolko explains.

Read more: http://nbcnews.to/1k8Ru85
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