U.S. Home Sales Reach Fresh Post-recession High Of 5.59 Million In July

U.S. home sales set a fresh post-recession high in July as the housing recovery continues, a trade group said Thursday. The National Association of Realtors reported that existing home sales rose 2% to a seasonally adjusted annual rate of 5.59 million. Economists polled by MarketWatch expected a 5.48 million sales rate. That's the highest rate since Feb. 2007, marks the third monthly gain in a row, and represents a 10.3% year-over-year gain. There were 2.24 million homes for sales, down 0.4% from last month and 4.7% from last year. The median existing home price was $234,000, a rise of 5.6% from the same month of 2014.