US Existing Home Sales Achieve Record Monthly Increase

Existing home sales in the United States grew by 24.7% to a seasonally adjusted annual rate of 5.86 million units in July, registering the second monthly consecutive monthly increase, as shown by data of the National Association of Realtors (NAR) on Friday.

The June reading was revised to 4.70 million unit from 4.72 million.

On an annual basis, existing home sales increased by 8.7% last month.