Existing home sales rose in June, along with home prices
The median home price hit another record high last month
The spring home-buying season appears to have gotten a late start. After four months of declines, sales of existing homes rose 1.4% from May to June, according to the National Association of Realtors (NAR).
Home sales were up nearly 23% when compared to June 2020, but that number loses a lot of meaning when you consider that real estate activity slowed considerably in the early weeks of the pandemic.
Lawrence Yun, NAR’s chief economist, said the increase in sales had less...
