Home sales hit level not seen since ’06

WASHINGTON — Sales of existing homes rose 0.7 percent in December, pushing the entirety of 2020 to a pace not seen in 14 years and providing one of the few bright spots for a U.S. economy mired in a global pandemic.

Rising sales in the final month of the year lifted activity to a seasonally adjusted annual rate of 6.76 million units in December, the National Association of Realtors reported Friday.

For all of 2020, sales rose to 6.48 million, the highest level since 2006 at the height of the housing boom. That represented a 5.6 percent gain from the 5.34 million previously owned homes sold in 2019.

The median sales prices was $309,800 in December, up 12.9 percent from a year ago.

Steven Senne / Associated Press A “For Sale” sign is seen in front of a house in Westwood, Mass., in October.