Home sales soared in July, continuing a stunning rebound buoyed in part by buyers seeking a more comfortable home in the midst of the coronavirus pandemic.
Home sales jumped 24.7% from the month before, according to the National Association of Realtors. That surge broke the record for a month-to-month sales spike set in June when completed home purchases rose 20.7%.
July sales rose 8.7% over the same month last year.
“Right now housing, amazingly, in the midst of a global pandemic (and) high unemployment … is in a booming phase,'' Lawrence Yun, NAR's chief economist, said in a briefing Friday.
Charisse Jones | USA Today