Some good economic data today, as the National Association of Realtors reports homes sales rose in July. Sales in July were up 2.3% from June and up 10.4% from the same time last year. The association attributes the surge in sales to the current market. Home prices are still low and consumers wish to capitalize on this while they can. These low prices coupled with the rising cost of renting has made home-ownership seem more attractive to some.The National Association of Realtors did say that an average annual rate for home sales should be between 5 and 5.5 million, still a ways above July’s 4.47 million.
