CNN Business | Home sales jumped nearly 21% in June

After several months of plummeting sales caused by the coronavirus pandemic, the housing market came back to life in June, according to the National Association of Realtors.

Sales of previously owned homes jumped a record 20.7% from May, the largest month-over-month increase since NAR began tracking in 1968.

“Record low mortgage rates are no doubt helping to bring buyers to the market,” said Lawrence Yun, NAR’s chief economist. “But the inventory levels are shrinking, which could create a bottleneck for sales gains going forward.”  —more—