The sale of existing homes appears to be poised for recovery. After seeing sales decline month after month this past winter, they have taken a positive turn.

For the first time in more than five years, sales have risen for three straight months. In June they were up 3.6% to seasonally adjusted annualized rate of 4.89 million units, the highest level since October. Revised sales in May totaled 4.72 million units.

That's a vast improvement from January, when sales of single-family houses, town homes, condominiums and co-ops, fell to 4.49 million.

Distressed home sales accounted for only 31% of sales. Just last winter, sales of foreclosures and short sales, which drag down median sales prices, accounted for close to 50% of total sales.

The median sales price price now stands at $181,800, which has fallen 15.4% over the last 12 months.

Inventories of single-family homes fell 0.7% in June to 3.82 million units, which represents a 9.4-month supply.

Here's where to find out how home prices are changing in more than 140 cities across the country.

By Interest.com

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