New Life for Housing Market

Existing home sales blip up, but don't get too excited yet

Analysts are hailing the beginnings of a recovery in the nation's housing market. But to beleaguered homeowners, it will not feel like much of one for many months to come.

The number of existing homes sold rose 2.3 percent in July from the previous month, according to figures released Wednesday. Volume was up more than 10 percent from a year ago.