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Home sales rise in June after a four-month losing streak

Home sales

(AP) — Sales of previously occupied U.S. homes rose in June, snapping a four-month losing streak, while strong demand for higher-end properties and ultra-low mortgage rates helped push prices to new highs.

The National Association of Realtors said Thursday that existing homes sales rose 1.4% last month from May to a seasonally-adjusted annual rate of 5.86 million units. Sales jumped 22.9% from June last year.

The median U.S. home price climbed 23.4% from a year earlier to a record $363,300.

At the end of June, the inventory of unsold homes stood at just 1.25 million homes for sale, down 18.8% from a year ago.

At the current sales pace, that amounts to a 2.6 months' supply, the NAR said.

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Jena Kleindl

Jena joined the WREX team in May 2020 as the Assignment Editor and News Producer. She was born and raised in Freeport. She received her Bachelor’s degree in Journalism and Media Studies from the University of Wisconsin – Milwaukee in 2020.

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