Friday, September 24, 2010

Existing U.S. Home Sales Rise in August From Record Low

Sept. 23 (Bloomberg) -- Sales of U.S. previously owned homes rose in August to the second-lowest level on record, indicating housing remains depressed a year after the economic recovery began. Purchases of existing houses climbed to a 4.13 million annual pace, in line with the median forecast of economists surveyed by Bloomberg News and second only to July’s 3.84 million rate as the weakest in a decade’s worth of data, the National Association of Realtors said today in Washington. Bloomberg's Margaret Brennan and Michael McKee report. (Source: Bloomberg)