The number of existing home sales nationwide jumped 7.6 percent in April from March, according to the National Association of Realtors, as buyers rushed to qualify for the homebuyer tax credit before it expired April 30. April’s existing home sales were up 22.8 percent from the same month a year earlier. Lawrence Yun, chief economist with NAR, said that the tax credit was particularly effective for “people who were one the sidelines,” and needed a little extra incentive to buy. But while the existing home sales data is encouraging, Yun said that the data will likely show a negative adjustment in the coming weeks. “The upswing in April existing home sales was expected because of the tax credit inducement, and no doubt there will be some temporary fallback in the months immediately after it expires,” Yun said. TRD