The latest industry data finds more people purchasing existing homes and more lenders repossessing homes that fell into foreclosure.
The National Association of Realtors (NAR) reported that existing-home sales in July increased two percent to a seasonally adjusted annual rate of 5.59 million in July from a downwardly revised 5.48 million in June. The level of sales activity last month remained at the highest pace since February 2007 (5.79 million) and represents the tenth consecutive months of year-over-year sales.
Read more... http://nationalmortgageprofessional.com/news/55429/home-sales-rise-along-bank-repossessions
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