The number of homes sold in the U.S. and their median selling prices increased in June, up from 2014 and setting the highest selling pace since 2007.
Completed sales transactions on existing homes increased to 573,000, which is growth of 13.2 percent from a year ago, according to the National Association of Realtors.
The median selling price of $236,400 on single-family homes, condominiums and co-ops grew 6.5 percent above June 2014, continuing an upward month-over-month trend that has been ongoing for more than three years.
“Buyers have come back in force, leading to the strongest past two months in sales since 2007,” Lawrence Yun, the organization’s chief economist, says. “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.”
For more details about June’s home sales, click here.