US: Existing Home Sales Rise Slightly in June

After dropping for four consecutive months, US home sales rebounded modestly in June, with prices continuing to rise and inventories low.

The National Association of Realtors said Thursday that existing home sales rose 1.4% in June after declining 1.2% in May. It rose 22.9 percent year on year in June.

Economists had expected sales to increase to an average of 5.90 million units in June.

The national median price for existing homes also increased by 23.4% from June 2020 to $363,000.

On Tuesday, the US Commerce Department reported that future home building permits fell to an eight-month low in June.