Cheaper mortgage rates and improved job market 'unleash pent-up demand' as economists think the crisis may be easing.

 

This article titled “Rise in US home sales has analysts optimistic about economic recovery” was written by Dominic Rushe in New York, for guardian.co.uk on Wednesday 22nd August 2012 15.37 UTC

US home sales and prices rose moderately in July amid signs that the worst housing crisis in living memory may be coming to an end.

According to the National Association of Realtors (NAR) existing home sales rose 2.3% to an annual rate of 4.47m units last month, a figure just below analysts' expectations. The median price for a home resale nationwide was $187,300 (£118,500) in July, 9.4% higher than in the same month a year earlier.

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