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Foreclosure activity was up in August and 22.5% of mortgage borrowers were in negative equity (i.e. owe more on their mortgage than their home is worth) in the second quarter.So, when the National Association of Realtors reported that existing home sales surged 7.7% in August to 5.03 million annualized sales, it came as a huge relief.
Historically this number may be anemic, but in the current market, this was great news. So, we put together the 10 metros with the biggest gains in existing home sales and the median price of homes.
Note: All data is for existing single-family homes for August 2011
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