Highest US Home Sales Since May 2010Sep 20 2012
The National Association of Realtors reported that previously occupied homes rose 7.8% from July to August, to a seasonally adjusted annual rate of 4.82 million – the highest amount since May 2010 when sales were aided by a federal home-buying tax credit. In addition, home construction saw a 2.3% increase in August, jumping up to 750,000. Both of these report jumps suggest a US housing recovery as they come amid other signs of steady progress after years of a stagnant housing market.
When home prices rise, it’s said that Americans typically feel wealthier and spend more. What do you think? Do you feel more financially stable and believe that this housing recovery is here to stay?