US home sales rise by 2.5% in July

U.S. home sales rose more than expected in July, boosted by lower mortgage rates and a strong labor market, signs the Federal Reserve's shift toward lower interest rates was adding support for the economy. The National Association of Realtors said on Wednesday existing home sales rose 2.5% to a s

BY Realty Plus
Published - Friday, 23 Aug, 2019

U.S. home sales rose more than expected in July, boosted by lower mortgage rates and a strong labor market, signs the Federal Reserve's shift toward lower interest rates was adding support for the economy. The National Association of Realtors said on Wednesday existing home sales rose 2.5% to a seasonally adjusted annual rate of 5.42 million units last month. June's sales pace was revised slightly higher to 5.29 million units from the previously reported 5.27 million units.