Existing US Home Sales Rose In June; Prices Hit New Highs
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.
Existing homes sales rose 1.4% last month from May to a seasonally-adjusted annual rate of 5.86 million units, the National Association of Realtors said Thursday. Sales jumped 22.9% from June last year.
Economists were expecting that sales increased to an annual rate of 5.90 million, according to FactSet.
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