US homes sales rise 2.4% in August, highest since 2006

National News

FILE – In this April 1, 2020 photo, a “For Sale” sign stands in front of a home that is in the process of being sold in Monroe, Wash., outside of Seattle. Sales of new homes jumped again in July, rising 13.9% as the housing market continues to gain traction following a spring downturn caused by pandemic-related lockdowns. The Commerce Department reported Tuesday, Aug. 25, that July’s gain propelled sales of new homes to a seasonally-adjusted annual rate of 901,000. (AP Photo/Elaine Thompson, File)

SILVER SPRING, Md. (AP) — 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 Tuesday 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 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.

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