Increase in existing home sales shows market is rebounding

After a fourth straight monthly increase in sales of existing homes, economists tell the Associated Press that this is evidence of a rebound in the U.S. housing market, the Las Vegas Sun reports. Furthermore, a report from NAR indicates that sales of existing homes rose 2.4 percent in July to a seasonally adjusted annual rate of 5.15 million, while a homebuilder survey released Monday showed that builders are more confident about future sales.