Existing home sales jump in June

Existing-home sales jump in June

Existing single-family home sales jump in June. The data showcases the number of existing single-family homes that have transferred during a given time. The Nation Association of Realtors (NAR) records and posts the data monthly to help consumers, investors, and real estate professionals understand the real estate market’s current health across the United States.

The report includes data for the west, mid-west, south, and northeast regions. Condominium and co-op sales are included in NAR’s information; however, the NAR also publishes a breakout report that studies the sales data of single-family homes and condominiums separately.

National Home Sales

Nationally, single-family home sale data jumped 19.9% while condominium and co-op sales jumped 29.4% month over month.

Single-family homes are down nationally by 9.9% year over year and down 22.8% year over year for condominiums.

“The sales recovery is strong, as buyers were eager to purchase homes and properties that they had been eyeing during the shutdown,” said Lawrence Yun, NAR’s chief economist. “This revitalization looks to be sustainable for many months ahead as long as mortgage rates remain low and job gains continue.”

Local Home Sales

For local data of existing home sales, find a real estate agent or contact your local real estate association.

There were 15 homes sold in 90210 this June compared to only nine homes sold in May recorded on the Multiple Listing Service (MLS). Nineteen homes were sold in 90210 June 2019.

Los Angeles County reported 4,432 sales in June 2019 and only 3,293 single-family homes sold in June 2020.

The existing single-family home sales jump in June. Homebuyers, sellers, and investors should remain cautiously optimistic.