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Existing-home Sales Break Record for Monthly Increase

Mortgage News > Existing-home Sales Break Record for Monthly Increase
Date: 08/25/2020    Existing-home Sales Break Record for Monthly Increase

Sales of existing U.S. homes grew 24.7% in July from the month before, a new record-high for monthly growth and the second straight month of record increases, according to the National Association of Realtors. The previous record was set in June 2020 with a 20.7% jump in sales. Total sales in July rose to a seasonally-adjusted annual rate of 5.86 million homes, an 8.7% increase from a year ago. Meanwhile, inventory of existing-homes dropped 2.6% from June and 21.1% from a year ago. The median home price climbed to a new high of $304,100.

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