existing home sales
The latest news on existing home sales
WASHINGTON (AP) — U.S. sales of previously occupied U.S. homes surged in July to a seasonally adjusted annual rate of 5.39 million, approaching a healthy level for the first time since November 2009. The spike in home sales shows housing continues to drive the economy.
Dwindling supply plus growing demand equal spiking prices.
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Tight inventory continues to hold back home sales.
Homes sales are picking up as inventory constraints ease slightly.
Home sales slipped in December, but outlook for 2013 remains strong.
Flipping is opening the market to homes that would otherwise be a tough sell.
Resales jump nearly 8 percent, suggesting upturn in the housing market is no fluke.
Despite a glitch in the data release, industry observers got some good news about existing-home sales.
A leading measure of home prices showed the second consecutive month of price gains.