Existing home sales hit record high.(Brief Article)

Sales of existing homes, including single-family, town homes, condos and co-ops, rose 2.7 percent in June to a seasonably adjusted annual rate of 7.33 million from an upwardly revised pace of 7.14 million in May, according to the National Association of Realtors.

Sales were 4.4 percent above the 7.02 million unit level in June 2004. The previous record was 7.18 million in April of this year. Home sales were expected to actually ease slightly from peaks reached over the last couple of months, the association said.

"Just when you think sales activity is ready to settle into a more sustainable pace, the housing market continues to surprise," said David Lereah, …