Existing home sales rise

Tuesday July 25 by Claudia bourneinman.com
June sales of existing homes went up 2.8 percent in June -- a rise unprecedented by experts. Existing single-family home sales rose to a seasonally adjusted annual rate of 5.23 during June -- a 10-month high, according to the National Association of Realtors. Analysts had previously expected sales to fall nearly 2 percent during that period. With a continued strong economy and rising mortgage rates, many American homebuyers are seeking to close their deals before rates go even higher. May also saw a rise in existing home sales, pushing the numbers up 4.3 percent to a rate of 5.09 million units.

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