US homes sales rise 2.4% in August

According to a report, sales of existing homes increased in August. PHOTO CREDIT: Elaine Thompson

SILVER SPRING, Md. — Sales of existing homes rose 2.4% in August to its highest level since 2006 as the housing market recovers from a widespread shutdown brought on by the coronavirus outbreak.

The National Association of Realtors said today 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

It’s the the third straight gain for sales of existing homes following big, consecutive declines in March, April and May.

The median price for an existing single-family home reached $315,000 in August, up 11.7% from August 2019.