News That Doesn't Depress You: Home Sales Are Up

According to the National Association of Realtors(TM), existing home sales jumped a seasonally adjusted 3.6 percent in June. Moreover, the Mortgage Bankers Association reports that week-to-week loan applications are up 2.9 percent.

One reason for the increase is the jump in home affordability. Median prices are over 15 percent lower than a year ago.

The sales increase affects the entire country, led by Western states with a 6.4 percent June increased.

An uptick in housing bodes well for the entire economy.

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