Existing home sales surge in June

By Diana Olick | CNBC

Sales of existing homes jumped nearly 21% in June compared with May, according to the National Association of Realtors.

It was the largest monthly gain since the Realtors began tracking the data in 1968 and came after sharp declines over the previous three months due to the coronavirus pandemic. Sales were still 11.3% lower annually.

This count is based on closings, so it represents contracts signed in late April and May, before much of the national economy began to reopen and before the most recent surge in coronavirus cases.

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