Contact Us

US Home Sales Jump to Highest Since May 2010

A "House For Sale" sign is visible in front of an existing home
Tim Boyle/Getty Images

WASHINGTON (AP) – U.S. sales of previously occupied homes jumped in August to the highest level in more than two years, adding momentum to the housing recovery.

The National Association of Realtors says sales rose 7.8 percent to a seasonally adjusted annual rate of 4.82 million. That’s the most since May 2010, when sales were fueled by a federal home-buying tax credit.

The figures were reported the same day the government said U.S. homebuilders broke ground on more new homes in August compared to July.

Still, the recovery is from a depressed level. Sales of previously occupied homes remain below the more than 5.5 million that economists consider consistent with a healthy market. And the number of first-time homebuyers, who are critical to a housing rebound, slipped to 31 percent from 34 percent.

More Business News

Copyright 2012 by The Associated Press. All rights reserved. Material may not be redistributed.

Best of KSOO-AM

Recommended For You

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to http://ksoo.com using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for KSOO VIP Club quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive KSOO VIP Club contests, events, coupons, presales, and much more delivered to you for FREE.