U.S. home sales spike 24.7% in July, another record
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(Worthy News) – U.S. home sales rose an unprecedented 24.7% in July, extending a rebound in June after the coronavirus pandemic all but froze the housing market this spring.
National Association of Realtors said Friday that sales of existing homes jumped last month to a seasonally adjusted annual rate of 5.86 million. With consecutive months of record-breaking gains, purchases are now up 8.7% from a year ago. Home sales rose 20.7% in June, a record that lasted one month.
The housing market has been one of the more resilient sectors of the economy during the pandemic, but market activity continues to hinge on supply, which was limited even before the coronavirus outbreak. [ Source (Read More…) ]
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