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#Economic Report: ‘The housing recession is over,’ real-estate group says, as pending home sales tick up for the first time in 4 months

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‘The recovery has not taken place, but the housing recession is over,’ Lawrence Yun of the National Association of Realtors says

The numbers: Home sales inched up for the first time in four months, even as the U.S. housing market continues to deal with a dearth of listings.

Pending home sales rose by 0.3% in June from the previous month, according to the monthly index released Thursday by the National Association of Realtors.

The figure exceeded expectations on Wall…

Aarthi Swaminathan

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