Archives for August 2012

Existing Home Sales Rise 2.3 Percent on Pent-Up Demand

U.S. existing home sales rose 2.3 percent in July to 4.47 million from 4.37 million in the previous month but missed analysts' estimates, according to the National Association of Realtors. "It's pretty much in line with market forecasts," said Omer Esiner, chief analyst at Commonwealth Foreign Exchange. "It's encouraging to see the inventory of unsold homes come down and median price continue to rise, though I think there are technical issues involved in that. The homes that are selling tend to be higher … [Read more...]