U.S. home resales see second monthly gain

Sales of existing U.S. homes rose by two percent to a seasonally adjusted annual rate of 5.99 million units in July. In making the announcement, the (U.S.) National Association of Realtors also revised June’s pace upward to 5.87 million units, a gain of 1.6 percent. July’s figures surprised analysts, who anticipated a 0.5 percent decline to a rate of $5.83 million units. Compared to July 2020, sales were up just 1.5 percent.