Realtors say existing home sales rose in July

WASHINGTON — Sales of existing homes rose 3.1 percent in July, easily beating Wall Street’s expectations, as buyers snapped up deeply discounted properties in parts of the country hit hardest by the housing bust. However, the number of unsold properties hit an all-time high, the latest indication that the worst housing market slump in decades is far from over. For the full story visit www.latimes.com/business/la-fi-homes26-2008aug26,0,6571848.story