Home sales in the US increased sharply in September 2020

People wear masks to prevent COVID-19 infection in New York, USA. Photo: THX/VNA

Survey results released by the National Association of Realtors (NAR) show that the country's housing market continued to boom in September 2020 when sales of existing homes increased by 9.4%. compared with the previous month.

In September 2020, seasonally adjusted home sales (on a year-on-year basis) were 6.54 million units, higher than expected and up 21% year-on-year due to low interest rates and a boom in sales. The outbreak of the COVID-19 pandemic caused an increase in the demand to buy a home.

Lawrence Yun, NAR's lead economist, said that home sales typically dwindle towards the end of the year, but transactions surged in September due to record-low interest rates and a large number of buyers in the market. schools, including holiday home buyers thanks to the greater flexibility of working from home.

The scarcity has pushed the median home price to $311,800 per unit, up 14.8% from September 2019 nationally.

House prices in the US will continue to rise rapidly, but sales may be nearing a peak as mortgage applications have tended to slow down over the past few months, said Ian Shepherdson, an analyst at the Center for Pantheon Macroeconomics.

Theo AFP/Vietnam plus

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