Steel Markets
July 22, 2020
Existing Home Sales Rebound in June
Written by Sandy Williams
Americans released from stay-at-home mandates were eager to purchase homes in June. Sales of existing homes rebounded from three months of decline by leaping 20.7 percent from May to a seasonally adjusted annual rate of 4.72 million in June.
“The sales recovery is strong as buyers were eager to purchase homes and properties that they had been eyeing during the shutdown,” said Lawrence Yun, National Association of Realtors’ chief economist. “This revitalization looks to be sustainable for many months ahead as long as mortgage rates remain low and job gains continue.”
