U.S. Existing-Home Sales Continued to Climb in August

U.S. Existing-Home Sales Continued to Climb in August

Sales of previously owned homes rose in August for the third consecutive month of sales increases, the National Association of Realtors said Tuesday, a sign that prospective home buyers remain motivated to buy despite the pandemic.
Sales increased 2.4% from a month earlier  to a seasonally adjusted annual rate of 6 million, according to NAR.
On an annual basis, sales rose 10.5% in August, putting this summer’s housing market well ahead of last year’s sales levels, as more people working from home have either sped up their home purchasing plans or decided to buy for the first time. The boom in sales is most pronounced at the upper end of the market.