Second-hand home sales in the US soar 24.7% in July, their biggest rise since 2006

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Second-hand home sales in the United States registered a growth of 24.7% in July compared to the previous month, when they had increased by 20.7%, reaching an annualized figure of 5.86 million houses, which represents the best sales data since December 2006, according to the National Association of Realtors (NAR, for its acronym in English).

In the month of July, the median sale price of second-hand homes in the United States stood at 304,100 dollars (258,429 euros), which represents a rise of 8.5% compared to the price registered in July 2019.

In this way, prices accumulate 101 consecutive months of year-on-year price increases, exceeding the threshold of $ 300,000 (254,941 euros) for the first time.

The inventory of second-hand homes for sale in the United States was 1.5 million houses at the end of July, 2.6% below the June figure and 21.1% less than a year earlier.

“The housing market has passed the recovery phase and is now booming with higher sales than in the days before the pandemic,” said Lawrence Yun, chief economist at NAR, who highlighted that “with the substantial shift towards telecommuting , current owners are looking for bigger houses, “which will help drive demand in 2021.

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