EXISTING HOME SALES AT HIGHEST LEVEL SINCE 2006
Sales of existing homes rose 2.4% in August to its highest level since 2006 as the housing market recovers from a widespread shutdown in the spring brought on by the coronavirus outbreak. The National Association of Realtors said Tuesday that sales rose to a seasonally adjusted annual rate of 6 million homes sold last month. Sales are up 10.5% from a year ago and back to pre-COVID-19 levels of early 2020. Although the pace of sales has slowed significantly after back-to-back months of more than 20% gains, it’s the third straight monthly gain after big, consecutive declines in March, April and May.