The home resale market put forth another strong data set last week. Home sales prices are higher nationwide and sales volume has moved to a 2-year high. According to the National Association of REALTORS®, 4.82 million "existing homes" sold on a seasonally-adjusted, annualized basis in August, representing a near 8 percent improvement from the month prior and a nine percent jump from August 2011. An existing home is a home which has been previously occupied. Home sales were unevenly split across price tiers, with more than half of all homes selling for less than $250,000. This suggests that … [Read more...]