US Existing Home Sales Rise to New Record in August

Existing home sales in the United States increased during the month of August to its highest level in about 14 years, according to data by the National Association of Realtors (NAR).

Existing home sales went up by 2.4% to a seasonally adjusted annual rate of 6 million units in August, its highest level since December 2006.

Meanwhile, existing home sales increased by 10.5% on an annual basis.

The median existing house price surged by 11.4% on an annual basis to a record of $310,600 last month.