Americans bought more previously owned homes in April, a hopeful sign that the housing market is
gradually improving.

The National Association of Realtors said that home sales rose 3.4 percent last month to a seasonally
adjusted annual rate of 4.62 million. Home sales have rebounded after falling in March and are near the pace
of January and February which was the best winter in five years.

Still, annual sales fell well below the nearly six million equated with healthy markets.

A mild winter encouraged some people to buy homes earlier this year. "First time buyers, who are critical to
a housing recovery, rose in April to 35 percent of sales. That's up from 32 percent in March."

"First time buyers are slowly making their way back, said Jennifer Lee of BMO Capital Markets. That is still well below the 40 to 45 percent range during healthy times, but is the the lowest in almost half a year."

Homes at risk of foreclosure accounted for 28 percent of sales, down from 37 percent of sales in April 2011. The median sales price in April rose to $177,400, up 10.1 percent from a year ago.

Sales rose in all regions though some markets within these regions such as Las Vegas and Henderson, saw a drop in sales. The Greater Las Vegas Association of Realtors reported 3,185 single family homes sales in April, down nearly ten percent from March, but up 3.3 percent in April 2011.

The median price in Las Vegas and Henderson rose 4 percent to $127,900 in April, the third consecutive monthly increase.

Looking at construction starts, existing home sales and foreclosure rates, housing is 37 percent of the way back from it's low point, up from 20 % in April 2011.

In addition, some of the largest banks have begun to undertake more short sales merely than foreclosing on struggling homeowners an approach that experts say will cut down on vacant homes and help to heal the housing market.

Many economists believe that 2012 could be the year that housing finally makes a positive contribution to
overall economic growth. That hasn't happened since 2005, before the housing bust.