CNBC: U.S. Home Resales Hit 10-Year High

Existing home sales jumped 3.3 percent in January, reaching the highest level the market has seen since February of 2007.

Consumers are more confident about the American economy, and it’s starting to impact the housing market. In January, U.S. home resales hit a 10-year high.

According to data from the National Association of Realtors, existing home sales rose 3.3 percent last month to a seasonally adjusted annual rate of 5.69 million units. That’s the highest level the industry has seen since February of 2007. The climbing demand for housing is being fueled by a strengthening labor market. The next generation of American consumers now has access to employment opportunities that weren’t there before, which ultimately leads to more home sales.

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