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Housing market sales remain high

Despite economic struggle in many sectors this year, the U.S. housing market continued to show strong numbers in August, existing home sales rising 2.4 percent from July, revealing to be the strongest recorded in an August since 2006.

In August, housing market sales remained on the up and up, remaining strong despite ongoing economic challenges brought on by COVID-19.

Sales of existing homes in August topped an already strong July, reports Zillow, sales revealing to be the strongest recorded in any August since 2006.

As previously reported, houses continue to sell quickly once hitting the market, credited in part to historically low mortgage interest rates.

August existing home sales rose 2.4 percent during the month from July and 10.5 percent from a year ago. This growth is the highest level since December 2006, according to the National Association of Realtors.

The median existing-home price for all housing types in August was $310,600, reports Zillow, up 11.4 percent from August 2019. Existing home prices have risen year-over-year for 102 straight months.

Total housing inventory also continued its downward trend, inventory numbers coming in at 1.49 million in August, down 0.7% from July and 18.6% from August 2019.