US existing home sales hit fastest pace since 2007 in June
Sales of existing homes in the US rose at their fastest pace since January 2007, figures released on Wednesday showed.
According to the National Association of Realtors (NAR), existing home sales climbed 3.2% in June to a seasonally adjusted rate of 5.49m, ahead of analysts’ expectations of a 5.42m.
Meanwhile, NAR revised May’s pace downwardly from 5.35m to 5.32m, adding June’s median sales price hit a record high figure of $236,400.
According to NAR’s chief economist Lawrence Yun, there was a "solid foundation" for more home sales, fuelled by healthy jobs growth.