Property News · September 23, 2019

Low mortgage rates, higher incomes drive US pre-owned home sales to highest in more than a year


Sales of previously owned US homes rose in August to the highest in more than a year amid lower borrowing costs and sustained income gains, adding to signs the housing market is breaking out of a slump.Contract closings rose 1.3 per cent from the prior month to a 5.49 million annual rate, the fastest pace since March 2018, the National Association of Realtors said on Thursday. That exceeded all forecasts in a Bloomberg survey of economists, whose median projection was 5.38 million.The median…

Source : South China Morning Post
Read more…Low mortgage rates, higher incomes drive US pre-owned home sales to highest in more than a year

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