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Increases in Exsisting Home Sales-Everyone's Buying Now!
Home resales climbed 2% last month as the housing market continues its measured, steady recovery.
According to the National Association of REALTORS®, Existing Home Sales rose to 4.47 million units in July on a seasonally-adjusted, annualized basis.
An "existing home" is a home that cannot be classified as new construction and, despite a reduction in the national homes inventory, the number of previously-occupied homes sold in July was higher by 10% as compared to one year ago.
The Existing Home Sales also reported the folliowing :
First-time buyers accounted for 34% of all purchasers, down from 34% in June Real estate investors accounted for 16% of all purchasers, down from 19% in June Cash buyers accounted for 27% of all purchasers, down from 29% in June In addition, the real estate trade group reports that distressed sales accounted for a smaller percentage of the overall home resale market in July. Just 24% of home resales were for homes in various forms of foreclosure or short sale.
This is down one percent from June, and five percent from July 2011.
It also marks the smallest percentage of homes sold in "distressed" status since the trade group began to track such data 4 ... more

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