Surprise U.S. Existing-Home Sales Gain Caps Best Year Since 2006

March 8, 2021
Olivia Rockeman - Bloomberg

Sales of previously owned U.S. homes increased unexpectedly in December, capping the best year for the housing market since 2006 as historically low mortgage rates helped power demand.

Contract closings rose 0.7% from the prior month to an annualized 6.76 million rate, according to National Association of Realtors data released Friday. The figure topped all but one estimate from economists in Bloomberg survey that had a median of 6.56 million.



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