Total sales of existing homes, 1https: //www.nar.realtor/existing-home-sales, completed transactions that aggregate single-family homes, townhouses, condos and cooperatives, increased 24.7% since June to a stately annual rate of 5.86 million in July. Record sales per month increased by 20.7% in June this year. Sales as a total building increased year after year, 8.7% more than a year ago (5.39 million in July 2019).
“The housing market has moved well beyond the recovery phase and is now booming with higher home sales than in the days leading up to the pandemic,” said Lawrence Yun, NAR’s leading economist. “With significant replacement in remote work, existing owners are in favor of larger homes, resulting in a second call even in 2021.”