US home resales hit 5.39m in July, highest since '09
WASHINGTON (AP) - US sales of previously occupied US homes surged in July to a seasonally adjusted annual rate of 5.39 million, approaching a healthy level for the first time since Nov 2009.
The spike in home sales shows housing continues to drive the economy.
The National Association of Realtors says sales jumped 6.5 per cent from a 5.06 million pace in June. Sales are 17.2 per cent higher than 12 months ago.
Home sales and prices have climbed since early last year, buoyed by steady hiring and historically low mortgage rates.