On Thursday, the National Association of Realtors (NAR) said existing home sales rose 1.5 percent to an annual rate of 5.26 million units. This is the highest rate since September 2013.
Sales also rose 2.5 percent compared to a year ago, which is the first time since October 2013 that resales have risen above prior-year levels.
"This is the first time in the year where we have seen a year over year annual gain, which means that existing home sales have made that successful U-turn," Lawrence Yun, NAR's chief economist, told reporters.
This is further evidence that the housing market is improving!
