REAL ESTATE news

 

Existing home sales at the highest pace since 2007:

 

Strong existing-home sales in August may result in weaker numbers in the coming months if buyers rush to close deals anticipating higher interest rates.
Existing-home sales increased 1.7% in August from July, the National Association of Realtors said Thursday.
Expect to see "payback" in September and October, says Patrick Newport, IHS Global Insight economist. Interest rates started rising in May and pushed buyers to close deals, he says.

http://www.usatoday.com/story/money/business/2013/09/19/august-existing-home-sales/2834843/