Existing home sales rose 0.6% in April to an annual pace of 4.97 million units. New home sales were up 2.3% in April to an annual pace of 454,000 units. Durable orders increased 3.3% in April. Initial jobless claims fell 23,000 to 340,000 for the week ended 5/18.

• Existing home sales rose 0.6% in April to an annual pace of 4.97 million units. Sales were up 9.7% from a year ago. The median existing home price of $192,800 was up 4.8% in April and 11.0% year-on-year to the highest level of the recovery.

• New home sales were up 2.3% in April to an annual pace of 454,000 units. The median new home price at a new record of $271,600 is up 8.3% in April and up 14.9% from a year ago.

• Durable orders increased 3.3% in April. Excluding autos, orders were up 1.3%.

• Initial jobless claims fell 23,000 to a level of 340,000 for the week ended May 18th.