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Happy Friday – Strong Gain in Existing-Home Sales Maintains Uptrend

According to a post today by the National Association of Realtors (NAR), for the first time in five years, existing-home sales have increased for four months in a row; monthly increase is the largest in 23 years. Existing home sales rose 7.2 % to a seasonally adjusted annual rate of 5.24 million units in July from a level of 4.89 million in June, and are 5.0% above the 4.99 million-unit pace in July 2008.  Could the real estate market be recovering sooner than we thought?

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