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Existing home sales reach 2014 high

Prices-going-up-graphic-2Existing home sales increased in July to their highest annual pace of the year. Total existing home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, are at the highest pace of 2014 and have risen four consecutive months.

Month-over-month, existing home sales rose 2.4% to a seasonally adjusted annual rate of 5.15 million in July from a slight downwardly-revised 5.03 million in June.

The gains were led primarily by sales in the South and the West regions.

 

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