Sales of U.S. Existing Houses Probably Held Near Two-Year High

Posted by Bonnie Martin Designated Broker on Monday, November 19th, 2012 at 8:04am.

bloomberg.com - Sales of previously owned U.S. homes probably held in October near a two-year high, indicating the recovery in residential real estate is being sustained by cheap borrowing costs, economists said a report may show today.

Purchases held at a 4.75 million annual rate last month, according to the median forecast of 64 economists surveyed by Bloomberg. In August, demand reached a 4.83 million rate, the most since May 2010. Homebuilder confidence probably held at a six-year high in November, another report may show.

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