First Year Over Year Rise In Existing Home Sales Since November 2005
A strong July Existing Home Sales report from the National Association of Realtors is propelling the market this morning. Existing home sales rose to a 5.24 million annualized rate from 4.99 million in July 2008 – the first year over year increase since 2005. This is another piece of evidence supporting a bottom in the low end of the housing market.
The report was released at 10am EST…..