Existing home sales at highest level since 2007; prices hit all-time high (Video)

Sales of existing homes rose to their highest level since 2007 in June, and the median sales price hit an all-time high.

That’s according to the National Association of Realtors, which reported that existing home sales increased 3.2 percent in June to a seasonally adjusted annual rate of 5.5 million. That rate is nearly 10 percent above what it was a year ago.

“Buyers have come back in force, leading to the strongest past two months in sales since early 2007,” said NAR Chief Economist Lawrence… …read more