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2014-08-22 21:25:38
US housing recovery appears to be back on track

A fourth straight monthly increase in sales of existing homes provided the latest evidence Thursday that the U.S. housing market is rebounding from a weak start to the year. Housing has been a drag on an otherwise strengthening economy, in part because a harsh winter delayed many sales, but Americans are stepping up purchases as more homes have been put up for sale. The low mortgage rates and moderating price gains have made homes more affordable.

Sustained jobs gains, as well as the fall in mortgage rates since the beginning of the year, appear to have unleashed at least some pent-up demand.

The average rate for a 30-year mortgage fell to 4.1 percent this week, the lowest level this year, according to mortgage giant Freddie Mac. At the start of the year, the average rate was 4.53 percent. 

Sales of existing homes rose 2.4 percent in July to a seasonally adjusted annual rate of 5.15 million, the National Association of Realtors said Thursday. That was the highest annual rate since September of last year.

 Provided by,

Doug Spiers / Principal Broker
Elite Choice Real Estate
1436 South Legend Hills Drive Suite 311
Clearfield, Utah 84015

Direct (801) 726-7173
Email: DougSpiers@aol.com

“The highest compliment I can receive is the referral of your friends, family and business associates. Thank you for your trust and confidence.”


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