Topics

Freddie Mac

US homes sales improved in June, best pace since early 2007

US homes sales improved in June, best pace since early 2007

Americans bought more homes in June, the fourth straight monthly gain as the sales rate reached its highest level in more than nine years.

The National Association of Realtors said Thursday that sales of existing homes rose 1.1 percent last month to a seasonally adjusted annual rate of 5.57 million, the best performance since February 2007. Buyers are quickly making offers amid tight supplies of homes on the market, boosting prices as the traditional buying season reached its crescendo. The solid job market and mortgage rates near historic lows have kept demand steady, even though the number of listings on the market has dropped.

But continued sales gains appear to be...

82°