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High prices didn’t deter Americans from homebuying in July

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AFP

Washington (AFP) – US homes for sale were in short supply and expensive in July, but Americans continued buying, according to industry data Monday showing sales rose for a second straight month. Existing home sales climbed two percent last month to an annual rate of 5.99 million, seasonally adjusted, the National Association of Realtors (NAR) said, a pace that was above analysts’ expectations. The US real estate market grew white hot last year as the Covid-19 pandemic disrupted daily life and the Federal Reserve implemented easy money policies to support the economy, which made mortgages cheap…

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