Good news was reported in the Weekend Edition of The Wall Street Journal:

Sales of existing homes in July jumped at the fastest rate in 10 years, sending stock prices up around the globe on hope that the U.S. housing market-a driver of the world’s largest economy-is stabilizing after years of decline.

Sales of single-familly homes increased 7.2% in July from a month earlier to a seasonally adjusted annual rate of 5.24 million unts, the National Association of Realtors said Friday.

The monthly increase was the largest since 1999, when the NAR began collecting data for all types of homes-its measure includes condos and coops. It marked the fourth monthly rise in a row. Sales are also up 5% from July 2008, showing the first gain from the year-earlier level since November 2005.

Your thoughts? End of the housing recession?

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