(By Alan Zibel, Associated Press) The U.S. housing market is rebounding faster than expected.The question is, can it last?Sales of existing homes in July posted the largest monthly increase in at least 10 years as first-time buyers rushed to take advantage of a tax credit that expires Nov. 30. Sales jumped 7.2 percent and beat expectations, the National Association of Realtors said Friday.“The housing market has decisively turned for the better,” said Lawrence Yun, the trade group's chief economist.Sales hit a seasonally adjusted annual rate of 5.24 million in July, from a pace of 4.89 million in June.
Comment on Pushed by tax credit, U.S. home sales surge
Charlotte Observer: Business, Charlotte Observer: Business
Fri, 08/21/2009 - 9:02pm
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