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| Version 0 | Version 1 |
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| US housing sales increase in July | US housing sales increase in July |
| (about 6 hours later) | |
| Sales of previously owned homes in the US rose 3.1% in July, as buyers took advantage of falling prices in the wake of the housing slowdown. | Sales of previously owned homes in the US rose 3.1% in July, as buyers took advantage of falling prices in the wake of the housing slowdown. |
| Sales climbed to a seasonally adjusted annual rate of 5 million units, said the National Association of Realtors. | Sales climbed to a seasonally adjusted annual rate of 5 million units, said the National Association of Realtors. |
| While the figures were greater than expected, home sales were still 13.2% less than the level a year earlier. | While the figures were greater than expected, home sales were still 13.2% less than the level a year earlier. |
| Many parts of the US worst hit by the US sub-prime crisis have seen prices slump, sending average prices lower. | Many parts of the US worst hit by the US sub-prime crisis have seen prices slump, sending average prices lower. |
| The median price for homes sold in July fell 7.1% year-on-year to $212,000 (£114,439). | The median price for homes sold in July fell 7.1% year-on-year to $212,000 (£114,439). |
| "The data is not too significant, and the market hasn't reacted dramatically to it," said Al Kugel, chief investment strategist at Atlantic Trust. | "The data is not too significant, and the market hasn't reacted dramatically to it," said Al Kugel, chief investment strategist at Atlantic Trust. |
| But he added: "It is interesting that home sales have pretty much levelled off in 2008." | But he added: "It is interesting that home sales have pretty much levelled off in 2008." |
| "The small rise in monthly home sales is a reflection of increased sales of foreclosed homes at very low prices, rather than a pick-up in the regular private sales market," said economist Ian Shepherdson at High Frequency Economics. | |
| "But they all count," he added. | |
| Richard Gaylord, president of the National Association of Realtors said: "We hope the new tools in the hands of home buyers from the recently enacted housing stimulus package will spark a sustained sales uptrend in the months ahead." |