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About: http://data.cimple.eu/news-article/62b855facc5e6ec21e296e0ef424aa8fce8086cd4b3b6c8b3beff066 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	Sales of existing homes jumped a record 20.7 percent in June, ending three months of coronavirus-driven declines as buyers returned to the market, the National Association of Realtors (NAR) said on Wednesday. Sales were at a seasonally adjusted annualized rate of 4.72 million last month, slightly better than expected, though were down 11.3 percent from June 2019. NAR Chief Economist Lawrence Yun credited the month-on-month rebound to "buyers... eager to purchase homes and properties that they had been eyeing during the shutdown." "This revitalization looks to be sustainable for many months ahead as long as mortgage rates remain low and job gains continue." Sales rose in all regions with the nation's west seeing the biggest jump, while prices were up 3.5 percent from a year ago. However inventory tightened, with unsold units dropping to a 4.0-month supply from 4.8 months in May, and total inventory at 1.57 million units -- down 18.2 percent from June 2019 even if it's 1.3 percent above last month. "Home prices rose during the lockdown and could rise even further due to heavy buyer competition and a significant shortage of supply," Yun said. The relatively healthy data comes despite otherwise gloomy projections for the US economy, where business shutdowns to stop COVID-19 sent the unemployment rate to 11.1 percent in June and a surge in cases has forced some areas to roll back steps to reopen. "This might seem hard to square with the surge in unemployment," Ian Shepherdson of Pantheon Macroeconomics said of the NAR survey, "but the wave of job losses among the relatively young workforce in the leisure and hospitality sector has mostly hit renters; the median age of a US homebuyer is about 47." cs/jme
schema:headline	US existing home sales jump record 20.7% in June: survey
schema:mentions	Mortgage loan Lockdown Coronavirus disease 2019 National Association of Realtors Lawrence Yun Jme (musician) Ian Shepherdson Pantheon Macroeconomics
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-07-22 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	positive sentiment
http://data.cimple...readability_score	57 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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