WSJ: Existing Home Sales Hit Highest Level Since October

Yes, existing home sales hit their highest level since October, but June is typically the best time of the year to buy a home. It's like retail spending higher during the Christmas season and not as high as last year. July and August will likely make for a better litmus test. Also, first-time homebuyers remain low at 28%--typically, they're 40% of the market. One expert has said that a $1.2 trillion market might be the "new normal." I'll defer to this Wall Street Journal article by Josh Mitchell for the overall story.