Some economists say the increase in sales of existing homes in August could point to a tepid improvement in the housing market. Others, however, note that sales are up only compared with a record drop the previous month. "This report is only good in the context of the incredibly bad report last month," said Mark Zandi, chief economist of Moody's Analytics. "But last month will be the low point in the cycle. When we look back years from now, it will be the bottom. The worst is over."
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