NAR: Home prices are firming

Real Estate News Blog Headline

New home sales surge 9.6% in July

New U.S. home sales surged 9.6 percent in July, rising for the fourth straight month and beating expectations as the housing market shows continuing signs of rebounding from its historic downturn. The Commerce Department said Wednesday that sales rose to a seasonally adjusted annual rate of 433,000 from an upwardly revised June rate of 395,000. Sales are now up 32 percent from the bottom in January, but off 69 percent from the frenzied peak four years ago.

Posted: August 26, 2009

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