According to Bloomberg news today:
Previously Owned U.S. Home Sales Rise to Eight-Month High
Sales (ETSLTOTL) of previously owned U.S. homes climbed in June to an eight-month high as more listings helped prices cool, luring buyers into the market.
Sales increased 2.6 percent to a 5.04 million annual rate last month, led by gains in all four U.S. regions, figures from the National Association of Realtors showed today in Washington. The median forecast of 78 economists surveyed by Bloomberg projected sales would rise to a 4.99 million rate. Prices advanced at the slowest pacesince March 2012 and inventories rose to an almost two-year high.
Historically low interest rates and smaller price increases are helping bring homeownership within reach for more Americans. A pickup in employment opportunities that lead to faster wage growth would provide an added spark for a residential real-estate market that began to soften in the middle of 2013.
US Home Sales Report for the NorthEast:
The existing home-sales advance was led by a 6.2 percent gain in the Midwest, followed by a 3.2 percent increase in the Northeast. Purchases rose 2.7 percent in the West and 0.5 percent in the South.
Purchases of single-family homes increased 2.5 percent to an annual rate of 4.43 million, the report showed. The sales pace of multifamily properties including condominiums climbed 3.4 percent to 610,000 in June, also the highest since October.
Read the full US Home Sales Report article at Bloomberg News
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