Sales of previously occupied U.S. homes rose in June, snapping a four-month losing streak, while strong demand for higher-end properties and ultra-low mortgage rates helped push prices to new highs. Existing homes sales rose 1.4 percent last month from May to a seasonally-adjusted annual rate of 5.86 million units, the National Association of Realtors (NAR) said Thursday. That’s just under the 5.9 million annual rate economists were expecting, according to FactSet. Sales jumped 22.9 percent from June last year, when some states were still locked down due to the pandemic. Last month’s home sales pace is ahead of the 5.7 million annual rate in February 2020, before the coronavirus led to a spring slowdown in sales last year. The modest sales rebound last month followed a string of four monthly declines as soaring prices and a limited number of available homes on the market discouraged many would-be buyers, especially those …
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