Home sales up 11%, biggest jump in 8 years

According to Wells Fargo Securities Economics Group, “Sales of new homes jumped 11.0 percent to an annual pace of 384,000 units, the biggest monthly jump since 2000 and the fastest annual pace of sales since late last year. Inventory levels continued to improve.  Sales rose at their fastest pace in more than eight years, providing further evidence that home sales activity appears to have bottomed, at least nationally, in the first half of the year.”  Continue reading.