Nevada City Virtual Tour

Sunday, September 1, 2013

Existing-Home Sales Spike

Existing-Home Sales Spike

Existing-home sales rose strongly in July, with the median price
maintaining double-digit year-over-year increases.

"Mortgage interest rates are at the highest level in two years," said
NAR Chief Economist Lawrence Yun. "The initial rise in interest rates
provided strong incentive for closing deals. However, further rate
increases will diminish the pool of eligible buyers."

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