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Personal income, expenditures on the rise in April

Greater incomes could mean greater home sales.

Greater incomes could mean greater home sales.

According to the most recent information released by the U.S. Department of Commerce, personal and disposable income, as well as personal expenditures all increased during April.

Personal income grew by $46.1 billion, 0.4 percent greater than March's total. Disposable personal income increased $35.1 billion, which was 0.3 percent higher than March. Personal consumption expenditures jumped $54.6 billion to a total 0.4 percent greater than March as well.

March's individual gains were actually greater than April's, however, last month's totals ended up higher than March's. During March, personal income grew $54.6 billion, DPI by $46.3 billion and PCE by $54.8 billion. These were up 0.4 percent, 0.4 percent and 0.5 percent from February, respectively.

With a majority of home prices declining and reaching new lows, more consumers, now with greater incomes, could be enticed to purchase a home.

According to the National Association of Realtors' latest report regarding the national real estate market during the first quarter of 2011, 118 of the 153 total metropolitan statistical areas it surveys experienced a decline in median price during the year's first three months. Thus, more properties could be attractive on the market for many interested in moving.