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U.S. Home Sales Jump to Two-Year High
Dhu Published in Saudi Press Agency on 19 - 09 - 2012

AlQa'dah 3, 1433, Sep 19, 2012, SPA -- U.S. sales of previously occupied homes jumped in August to the highest level in more than two years, adding momentum to the housing recovery.
The National Association of Realtors (NAR) reported Wednesday that sales rose 7.8 percent last month to an annual rate of 4.82 million, the most since May 2010, when sales were fueled by a federal home-buying tax credit.
However, the August sales gain is in a depressed market. Sales of previously owned homes remain significantly below the 5.5 million annual rate that economists consider healthy.
Home sales might be higher if more homes were available, the NAR said. The limited supply is helping to lift prices.

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