The resurgence of the housing market has been a bright spot for the U.S. economy, contributing to employment, investment and overall growth. But by many measures it remains well below historical norms, highlighting the severity of the housing bust while also factoring into low inventories and rising prices.
Sales of existing homes rose to their highest level in more than nine years and prices climbed to a new peak in May, underscoring strong demand amid steady job creation and low interest rates…read more