Existing-home sales spiked 6.5% in July, showing a double-digit - TopicsExpress

Existing-home sales spiked 6.5% in July, showing a double-digit year-over-year increase in the median price, according to data released Wednesday by the National Association of Realtors. The national median existing-home price spiked to $213,500 in July, 13.7%higher than July 2012. July’s spike marks 17 consecutive months of year-over-year price increases on existing homes. Distressed homes accounted for 15% of July sales, down from 24 percent in July 2012.

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