Purchases of previously owned U.S. homes rose more than projected in May, a sign the industry is stabilizing after a weather-depressed quarter.
Americans snapped up previously owned homes in May in the biggest monthly sales gain in almost three years, a sign the residential real estate market is regaining its footing after a stumble early in the year.
Purchases of previously-owned U.S. homes fell in October to the lowest level in four months as limited supply and higher mortgage rates restrained momentum in the housing-market recovery.
"Steady job additions to the economy are helping family finances and giving them added confidence to enter the market."
- Lawrence Yun on Aug 28, 2014
NAR's Yun Says Home Sales Limited by Weather, Prices (Audio)