WASHINGTON, DC-The National Association of Realtors reports that existing-home sales  increased 3.4% to a seasonally adjusted annual rate of 4.62 million in April. That is an increase from a downwardly revised 4.47 million in March, and a 10% increase year over year from April 2011.

Perhaps most notably in the report, the uptick in sales can be attributed to individual home buyers as well as investors that have been moving into the sector looking for distressed assets. For this reason, investors that are scooping up distressed single-family homes can no longer assume the investment will pay off as it would have two years ago, Lawrence Yun, NAR chief economist, tells GlobeSt.com.

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