Homes sales surged in August

Homes sales surged in August!!!!! The Census Bureau reported Wednesday that August 2014 Home sales reached a total of 504,000. That number is way past the forecast of most economists and is great news for the economy. The 504K total is a sharp increase over last years August numbers, beating the 2013 sales by a whopping 33%! According to HSBC Securities Ryan Wang “The housing market is stable”, welcome news for an industry that has been struggling to rebound since the recession. Housing starts were down in August from July’s numbers, but July was the highest number of housing starts since 2007. The jump in sales will likely prompt new home builders to pick up the pace to meet demand.