Saturday, August 22, 2009

News That Doesn't Depress You: Largest Monthly Home Sales Increase In 10 Years

Existing home sales continued to rebound with July posting the fourth straight monthly increase.

  • July sales increased 7.2%

  • Largest monthly increase in 10 years

  • Best sales month since August 2007

  • Distressed properties are down to roughly one third of sales (they were half)

  • Inventories of distressed properties are low in some of the markets hardest hit by the housing collapse

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