Summary Box: Investors drive March home sales

AP News
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Posted: Apr 20, 2011 4:52 PM
Summary Box: Investors drive March home sales

HOME SALES RISE: Sales of previously occupied homes in March rose 3.7 percent from the previous month to a seasonally adjusted annual rate of 5.1 million, the National Association of Realtors said Wednesday.

FORECLOSURES A BIG SLICE: Foreclosures and short sales _ when a lender agrees to accept less than what is owed on the mortgage _ rose to make up 40 percent of all purchases.

INVESTORS APLENTY: All-cash deals made up 35 percent of sales, a sign of investor activity. Sales of homes priced under $100,000 have risen 10 percent over the past year, while mid-priced re-sales have fallen.