Market update: U.S. existing home sales are heating up

  • July 22, 2015

U.S. home resales rose in June to the highest level in 8-1/2 years. Quicken Loans Vice President Bill Banfield offers the following comments on the report.

“Strong home resale numbers throughout the spring and into summer are welcome news to those who feared the housing market was a weak point in the overall economy. As housing numbers trend more and more positive, the Fed will become increasingly comfortable in beginning to raise rates and those who purchase a home now will likely be very happy they acted.”

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