Sales of existing US homes rose 5.0pc in July to a record high in what was probably the peak of the US housing boom, the National Association of Realtors said today. Sales of already owned homes climbed to a seasonally adjusted annual rate of 6.12 million units from a 5.83 million unit rate the month before.
The number surpassed expectations of analysts polled by who forecast a rate of 5.94 million homes. The median sales price of pre-owned homes surged to USD182,100 in July, up 12.1pc from the same month a year earlier. That was the biggest climb since November 1980.// www.fxcentre.com