Existing home sales data for April has been released, and it is showing that there has been an increase. This comes on the heels of yesterday’s data that showed that home prices declined significantly in the first quarter of this year. Mortgage News Daily reports on where the home sales are taking place:

“Most of the sales are taking place in lower price ranges and activity is beginning to pick up in the midprice ranges, but high-end home sales remain sluggish,” said Lawrence Yun, NAR chief economist, in the report.

Clearly, many people are looking for good deals right now, and the lower home prices are spurring home sales. Government tax incentives and low mortgage rates are probably helping as well.