Home buying on the rise - KWWL - Eastern Iowa Breaking News, Weather, Closings

Home buying on the rise

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WASHINGTON, D.C. (KWWL) -

Americans bought more homes in July than in June and prices rose, evidence that the housing market is slowly recovering.

The National Association of Realtors says sales of previously occupied homes rose to 4.47 million in July, a 2.3 percent increase from the previous month.  It was the first increase in three months.

But the recovery is slow and uneven, July sales were below the 4.6 million pace reached in April and May.  The annual sales pace is below the roughly 5.5 million that economists consider healthy.

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