News Alert
from The Wall Street Journal
Existing-home sales rose to their highest level in nearly two years from June to July as cheaper prices and the availability of tax credits continued to entice buyers. Home resales rose more than expected, bouncing 7.2% -- the highest month-over-month percentage increase in more than a decade -- to a seasonally adjusted 5.24 million annual rate, the National Association of Realtors said.
Foreclosures and short sales reflect 31% of sales in July. The median price for an existing home last month was $178,400, a 15.1% decrease from July 2008.
http://online.wsj.com/article/SB125085108563549051.html?mod=djemalertNEWS
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