The August figures cited by the New York State Association of Realtors when compared to last August indicate a significant upswing: 13.3% in pending sales; 3.9% in closed sales and 4% in median sales price.
And across the U.S. home resales jumped 7.8 percent in August, the fastest in more than two years. Housing starts also rose, a hopeful sign that a budding housing market recovery is gaining traction.
The PHLX housing sector index jumped 2.2 percent, led by a 4.3 percent advance in PulteGroup (PHM
the second-largest U.S. home builder,
And the resulting rise in housing stocks following stronger-than-expected data on home sales spurred a general rise in stocks across the board. August, 2012 marks the long awaited turn a round in the housing market.