By Les Christie @CNNMoneyAugust 23, 2012: 11:10 AM ET New home sales are recovering slowly, but are still a long way from historic norms. NEW YORK (CNNMoney) — New-home sales are on the upswing, but they still have a long way to go before they get back to normal. In July, home builders sold new homes at an annual rate of 372,000, a 3.6% gain compared with the 360,000 sold in June and a 25.3% year-over-year increase, according to a Census Bureau report. “These numbers are even better than they […]

By Les Christie @CNNMoneyAugust 22, 2012: 1:20 PM ET Homebuyers are stepping up their purchases before rising prices and mortgage rates make buying more expensive. NEW YORK (CNNMoney) — Americans seem to be stepping up their homebuying while they can still find bargains. July home sales rose 2.3% from June, and 10.4% from a year earlier, to an annual rate of 4.47 million, according to a report from the National Association of Realtors. The market has been bolstered by low home prices and mortgage rates, according to Lawrence Yun, NAR’s […]