Existing Home Sales reached a six-and-a half year peak in August, 13% higher than one year earlier.
Existing home sales, including those of single family homes, townhomes, condominiums and coops, have remained above their year-ago levels for the past 26 months.
This news coupled with the Fed announcement 2 days ago that QE3 will continue until the economy shows more signs of stability, bodes well for home sale strength for the remainder of the year.
