US House Prices Hit Record High; Home Sales At 14-Year Peak

U.S. home sales surged the most in nearly 15 years last month, while median prices hit an all-time high and sale times narrowed as housing continues to pace the nation’s economic recovery. 

Existing home sales rose 2.4% from last month to a unit rate of 6 million, the third consecutive month of gains and the highest pace of gains since 2006, according to data published Tuesday by the National Association of Realtors. Sales as a whole rose 10.5% from last year, the NAR said.  

The median price of house sales also increased, rising 11.4% from the same period last year to a record high of $310,600, marking 102 consecutive year-over-year gains for the monthly data as demand for larger-area living spaces outside of traditional urban centers continues to increase. 

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