Home sales edge up, signs of stress remain

``"The share of cash-only purchases held firm at 32 percent, despite a drop in investors' share of purchases, signaling that refinancing remains a major hurdle for many families," observed Stephanie Karol, a U.S. economist for forecaster IHS Global Insight. "The share of first-time buyers was the primary cause for concern in this report: it fell 2 percentage points in May to 27 percent. The existing home sales market can only retain its strength for so long if move-up buyers cannot find a first-time buyer to purchase their starter homes."''