U.S. home sales keep improving

More homes were bought in July vs June.  Resales amounted to 4.47 million homes nationally. Luxury home builder, Toll Brothers CEO Douglas Yearley noted " we are enjoying the most sustained demand we've experienced in over 5 years". The sales increases are being influenced by higher priced home activity, fewer homes under $100,000 selling, and people seem to be feeling more confident and comfortable taking on larger purchases as their financial situation improves. First time home buyer accounted for 34% of sales in July. Typically, a strong real estate markets sees 40% of transactions going to first time home buyers. Low home inventory levels and tight credit standards are still holding back the housing recovery.