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US home resales jumped six point 5% in July that's the highest rate since November of 2009.
-- sharp increase suggests that rising borrowing costs are having a limited impact on housing market's recovery as buyers gobble up the country's limited inventory.
This is a great improvement we went down a little bit last month and it was a little bit -- cleaning.
But we have to realize that inventory has been tight it's the lowest since 2002.
-- the fact that people are buying what's out there is great this number is a positive sign for housing.
According to the National Association of Realtors July existing home sales rose to five point 39 million annualized rate.
That's up from just over five million in June and 17% higher compared to this time last year.
As sales of actually topped their year ago levels for 25 -- months.
It's solid and stable and that's what we talk about all the time is stabilizing housing not -- up takes.
We don't want to -- downturn but stable housing.
Doesn't market recoveries helping to prop up the economy by listing council finances.
And supporting consumer spending the rising interest rates on the thirty year mortgage -- -- a full percentage point since may.
May still threatened to derail housing slow rebounds for more on this slot on the foxbusiness.com.
In new York -- -- he burns.
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