CNN BUSINESS | Home sales reach a 14-year high in August, with prices hitting a new record
Home
sales surged to a 14-year high in August as record low interest rates brought homebuyers out in
droves and pushed prices to a new record high.
Existing home sales — which includes sales of single-family homes, townhomes,
condominiums and co-ops — were up 2.4% in August from July, to a
seasonally-adjusted annual rate of 6 million transactions, according to the
National Association of Realtors. That was a 10.5% increase from the year
before and the highest level since December 2006. —more—
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