Housing Market, Home Resales | featured news

Home resales hit a three-year high in February and prices jumped, adding to signs of an acceleration in the housing market recovery, even though the supply of properties on the market increased.

Home resales rose in October and a gauge of homebuilder sentiment climbed to a six-year high in November, a sign slow improvements in the labor market are helping the housing sector recovery gain traction.

Contracts to buy previously owned U.S. homes unexpectedly fell in June as fewer properties came on the market, an industry group said on Thursday, pointing to weak home resales in July.

Home resales fell in June but the median sales price was higher than a year earlier as fewer people sold their homes under distressed conditions, giving mixed signals for the country's nascent housing market recovery.