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US existing home sales surge as rates stay near record lows
The National Association of Realtors reports July purchases at a seasonally adjusted annual rate of 5.86 million, up 24.7 percent from June and 8.7 percent from a year ago, driven by mortgage rates near 3 percent and tight supply. NYC and SF markets show notable activity with buyers fleeing high rents.
MENTIONED IN THIS ARTICLE
Silver Spring
National Association of Realtors
United States
Freddie Mac
New York
San Francisco
NAR
Mike Fratantoni
Mortgage Bankers Association
Midwest
South