Sales of existing U.S. homes climbed 7.2% to a 5.24M annual rate, the most since August 2007. The gain was the biggest since records began in 1999. This jump was most likely a result of a combination of factors including foreclosure-driven declines in prices, government credits for first-time buyers and extremely low borrowing costs. Partially offsetting this good news is the fact that the median price fell 15%.