Existing Home Sales Jump More Than 20 Percent in June
The National Association of Realtors is reporting that existing home sales jumped 20.7% in June to a seasonally-adjusted annual rate of 4.72 million (11.3% lower than one year ago). Total housing inventory at the end of June was 1.57 million units, up 1.3% from May and down 18.2% from one year ago. Total unsold inventory was at a 4-month supply at the current sales pace with properties remaining on the market for around 24 days. The median existing-home price for all housing types was $95,300, up 3.5% from June, 2019.