Home prices continue to decrease according to July’s numbers, and as a result there has been a rise in residential home sales. Many of the sales reported in July were on foreclosed homes, which were sold at majorly discounted prices.

Another report produced by the Commerce Department showed more Americans purchased newly built homes in July, an increase of 2.3 percent from a month before.

This report has stirred mixed feelings from analysts. Some believe that this is a positive sign and that the worst is over, while many analyst believe we have yet to see the bottom of this drop in the market.

This entry was posted on Tuesday, August 26th, 2008 at 3:50 pm and is filed under Foreclosure. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.