

There were 6,616 homes under contract last month, a 27.6 percent increase over April 2009. April’s total marks the third best of any month.
The increase in contracts is mostly due to the April 30 deadline to put a
house under contract in order to take advantage of an $8,000 federal tax credit
for first-time buyers or a $6,500 tax credit for move-up buyers.
Meanwhile, there were 4,188 residential sales closed in April, up 16.3
percent from 3,602 closings in March and 23.5 percent from 3,390 in April 2009.
The median price for a single-family home rose 9.5 percent to $230,000 in April, compared with the same month a year ago.
Median condominium prices rose 7.5 percent, from $130,000 to $139,700,
during the same period.
The question, experts say, is whether the rapid sales pace is sustainable.
