Existing home sales were up 3.4% in April as new home sales rose 3.3%.  Durable orders increased 0.2% in April.  Initial jobless claims declined 2,000 to a level of 370,000 for the week ended 5/26. 

• Existing home sales rose 3.4% in April to an annual pace of 4.62 million units.  Sales were up 10.0% from a year ago.  The median existing home price of $177,400 was up 10.1% from a year ago.  Distressed home sales (foreclosures and short sales) accounted for 28% of sales, compared to 37% in April 2011.
• New home sales were up 3.3% in April to an annual pace of 343,000 units.  Sales were up 9.9% from a year ago.  The median new home price of $235,700 was up 4.9% from a year ago.
• Durable orders increased 0.2% in April. Excluding autos, orders were down 0.6%.
• Initial jobless claims edged down 2,000 to a level of 370,000 for the week ended May 26^th.