Strong Gain in Existing-Home Sales Maintains Uptrend

RISMEDIA, August 25, 2009-For the first time in five years, existing-home sales have increased for four months in a row, according to the National Association of Realtors®. Existing-home sales- including single-family, townhomes, condominiums and co-ops- rose 7.2% to a seasonally adjusted annual rate of 5.24 million units in July from a level of 4.89 million in June, and are 5.0% above the 4.99 million-unit pace in July 2008. The last time sales rose for four consecutive months was in June 2004, and the last time sales were higher than a year earlier was November 2005.
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