Economy

Demeter

(85,373 posts)

4. Existing U.S. Home Sales Climb to Highest Level in 8 Years

Thu Jul 23, 2015, 08:55 PM

Jul 2015

Sales of previously owned U.S. homes climbed to an eight-year high in June as momentum in the residential real estate market accelerated.

Closings on existing homes, which usually occur a month or two after a contract is signed, climbed 3.2 percent to a 5.49 million annualized rate, the most since February 2007, the National Association of Realtors said Wednesday. Prices rose to a record amid tight supply.

The housing market has picked up in recent months as more jobs, historically low mortgage rates and greater household formation boost demand. Faster wage growth will be needed to help housing continue its recovery and become a bigger contributor to growth this year.

“The housing market is on fire,” said Thomas Costerg, a senior economist at Standard Chartered Bank in New York, who projected sales would rise to a 5.48 million pace. “The strength in housing could offset some of the weakness we are seeing elsewhere.”

http://www.bloomberg.com/news/articles/2015-07-22/sales-of-existing-u-s-homes-climb-to-highest-level-in-8-years

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

32 replies

= new reply since forum marked as read

Highlight:

STOCK MARKET WATCH -- Friday, 24 July 2015 [View all] Tansy_Gold Jul 2015 OP

Hmmmmmm Tansy_Gold Jul 2015 #1

May one ask: What are you hoping for? Demeter Jul 2015 #3

Here's What's Really Driving the Commodity Index Lower Demeter Jul 2015 #6

Apple just confirmed everybody's biggest fear about China Demeter Jul 2015 #9

Gold Smash Leads to Surge in Demand For Coins, Bars Around World Demeter Jul 2015 #21

The Crafty Saudis: How They�re Sustaining Low Oil Prices Demeter Jul 2015 #27

It is being report that the Duggers' are heart broken that their.... Hotler Jul 2015 #2

Slimeballs were on welfare before they were "discovered". Fuddnik Jul 2015 #7

Existing U.S. Home Sales Climb to Highest Level in 8 Years Demeter Jul 2015 #4

Thirteen Cities Where Single-Family Rents Are Skyrocketing Demeter Jul 2015 #5

Jobless Claims in U.S. Fall to Lowest Level in Four Decades Demeter Jul 2015 #8

This is how much it will cost to buy � or even rent � your own egg-producing chicken Demeter Jul 2015 #10

It only takes 4-6 months to rebuild one's egg-laying flock Demeter Jul 2015 #14

And if you play it right..... Fuddnik Jul 2015 #15

lol, or dumplings, which might taste better. nt mother earth Jul 2015 #32

Here's why ETFs are overtaking hedge funds Demeter Jul 2015 #11

New BofA CFO Faces Steep Learning Curve Demeter Jul 2015 #12

The newest Obamacare fail: penalties of $36,500 per worker Demeter Jul 2015 #13

Social Security: What Would Happen If the Trust Funds Ran Out? Demeter Jul 2015 #16

Gaius Publius: Goldman Sachs � Masters of the Eurozone Demeter Jul 2015 #17

The Quiet Coup Demeter Jul 2015 #18

2010 and all that�Relitigating the Greek bailout (Part 1) Demeter Jul 2015 #19

Greece � Rescue Without Debt By Peter Koenig Demeter Jul 2015 #20

Greece Extends Market Shutdown as Government Begins Discussions Demeter Jul 2015 #24

Laws passed, Greece to open bailout talks as recession pushes goals further Demeter Jul 2015 #25

The Firesale Begins: Tsipras Agrees To Sell Greek Assets Demeter Jul 2015 #26

How Bad Was The Run On Greek Banks? Things got pretty intense. Demeter Jul 2015 #28

US Economic 'Hope' Plunges To 10-Month Lows Demeter Jul 2015 #22

Arrests in Fla., Israel tied to JPMorgan hack Demeter Jul 2015 #23

SENSE OF 'OW!' Demeter Jul 2015 #29

Mario Draghi: The ECB Has No Mandate To Ensure Checks Clear Or Credit Cards Work Demeter Jul 2015 #30

SEE YOU TONIGHT! Demeter Jul 2015 #31