Housing sales reach encouraging heights in US

Uzbekistan News.Net
Sunday 9th August, 2009

With economists determining the worst recession in decades was caused by the US housing crash, many of them now believe the end of the housing crisis will signal full term recovery.

In an encouraging sign for the struggling US housing market, sales of previously owned homes rose 3.6 percent in June, which is better than analysts expected.

The National Realtors Association in the US has confirmed the figures have marked the fifth straight month of higher sales.

But US house prices are still falling, meaning many homeowners are making monthly payments on homes that are worth less than the value of their loans.

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