Existing-home sales have increased year-over-year for nine consecutive months and are 9.6 percent above the $5.01 million rate in June 2014.
This year’s spring buying season was the strongest since the real estate downturn, said Lawrence Yun, NAR chief economist, in a statement.
“Buyers have come back in force, leading to the strongest past two months in sales since early 2007,” he said. “This wave of demand is being fueled by a year-plus of steady job growth and an improving economy that’s giving more households the financial wherewithal and incentive to buy.”
The median existing-home sales price in June was $236,400, which is 6.5 percent higher than June 2014 and breaks the previous record of $230,400 set in July 2006.
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