Reports Show U.S. Housing Market Improving

Sales of previously occupied homes rose 7.8% in August from July said a spokes person for the National Association of Realtors.

Reports Show U.S. Housing Market Improving

Sales of previously occupied homes rose 7.8% in August from July said a spokes person for the National Association of Realtors. That is the highest level since May 2010, when sales were aided by a federal home-buying tax credit. New home sales are up, as well, and builder confidence has reached its highest level in more than 6 years.

These 2 reports indicate recovery efforts gain momentum after years of no change. Sales and construction rates are still below healthy levels but the improvement has been steady. As the home market improves this tends to affect the broader economy as many sectors are impacted by housing market.