U.S. Existing-Home Sales Rise to Best Pace Since Early 2018

March 23, 2020
Reade Pickert - Bloomberg

Sales of previously owned U.S. homes jumped in December to the best pace in nearly two years as historically low interest rates continued to lure buyers despite record-low inventory.

Contract closings rose 3.6% from the prior month to a 5.54 million annual rate, according to National Association of Realtors data released Wednesday that exceeded all but one estimate in Bloomberg’s survey. The median sales price climbed 7.8% from a year earlier, the most since January 2016, to $274,500 as inventories declined for a seventh-straight month.



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