U.S. existing-home sales surge

08/21/2013 | Bloomberg · Christian Science Monitor, The

A 6.5% surge in U.S. sales of existing homes last month easily topped analysts' forecasts, and the 5.39 million annualized sales pace was the highest since a temporary tax credit caused a spike in sales in November 2009. "Housing will be an important part of the recovery through the rest of this year and into 2014. We have a better labor market and improved confidence, so the underlying demand is there," said Gus Faucher, senior economist at PNC Financial Services Group in Pittsburgh.

View Full Article in:

Bloomberg · Christian Science Monitor, The

Published in Briefs: