In this April 1, 2020 photo, a "For Sale" sign stands in front of a home that is in the process of being sold in Monroe, Wash., outside of Seattle. (AP Photo/Elaine Thompson, File)
By Matt Ott
U.S. home sales rose a record-breaking 24.7% in July, extending June's rebound after the coronavirus pandemic all but froze the housing market this spring.
National Association of Realtors said Friday that sales of existing homes jumped last month to a seasonally adjusted annual rate of 5.86 million. With two straight months of record-breaking gains, purchases are now up 8.7% from a year ago. Home sales rose 20.7% in June, a record that lasted one month.
The housing market has been one of the more resilient sectors of the economy during the pandemic, but market activity continues to hinge on supply, which was limited even before the coronavirus outbreak. New listings are running slightly higher than last year, but buyers are snatching up them quickly.
The median price for a home cracked the $300,000 mark for the first time ever, settling at $304,100, up 8.5% from July 2019.
Propublica national reporter Peter Elkind shares details on his investigation into how scammers stole over $1 billion using Walmart's gift cards and financial services, and how consumers can protect themselves.
Ed Siddell, CEO and Chief Investment Advisor at EGIS financial explains why election years tend to cause bull markets, the latest inflation data, and why he’s concerned about the ‘debt bubble.’
Archer Aviation founder and CEO Adam Goldstein shares big news about the aerospace company's new partnership with NASA and why they want to make your trip to the airport just five minutes long.
iFit CEO Kevin Duffy shares how the company is bringing artificial intelligence-powered workouts to consumers, plus other fitness trends to be on the lookout for in 2024.
Macy’s is rejecting a $5.8 billion takeover offer from investment firms Arkhouse Management and Brigade Capital Management, saying they didn’t provide a viable financing plan. The firms offered $21 per share for the stock they don’t already own.
Sports Illustrated's employee union said in a statement that the layoffs would be a significant number and possibly all, of the NewsGuild workers represented.
