Home Sales Report

[Admin]

Today's USA Today reports that home sales in the U.S. probably rose in June and a gauge of the economic outlook improved, signalling the recession may soon be ended, economists said before reports this week. Purchases of previously owned homes climbed to an annual rate of 4.83 million, the highest level since October, according to the median of 57 estimates in a Bloomberg News survey before the National Association of Realtor's report on Thursday. Figures out today may show the index of leading indicators climbed for a third consecutive month. Mounting evidence that housing is stabilizing is bolstering forecasts that government stimulus efforts will gain traction in coming months and lift the economy from the worst slump in five decades.