1st quarter home sales up, prices languish

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SPOKANE, Wash. (AP) -- Sales of existing homes in Washington surged in the first quarter of the year, but average prices did not.

That's according to a new report by the Runstad Center for Real Estate Studies at the University of Washington.

Sales of homes returned to levels that were close to average for the past 20 years, and were up 11.3 percent from the first quarter a year ago.

But the report found that median prices continued to fall, down 8.7 percent from the same period in 2011.