While you were sleeping US housing shows strength

Wed, 19 Sep 2012

By Margreet Dietz Sept 20 (BusinessDesk) - Better-than-expected housing data bolstered Wall Street, while the Bank of Japan's decision to follow policy makers in the US and Europe by providing further stimulus for its languishing economy helped underpin the mood. Existing houses sales climbed 7.8 percent to a 4.82 million annual rate in August, according to the National Association of Realtors. Meanwhile, construction of single-family houses rose 5.5 percent to a 535,000 rate, the Commerce Department said. Both data represent the strongest s...

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