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More Americans signed contracts to buy homes in June

More Americans signed contracts to buy homes in June Photo: WDIO-TV

MATT OTT AP Business Writer
Created: July 29, 2020 10:47 AM

SILVER SPRING, Md. (AP) - The number of Americans signing contracts to buy homes rose for the second straight month as the housing market appears to be recovering from a devastating spring freeze because of the coronavirus outbreak.

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The National Association of Realtors said Wednesday that its index of pending sales rose 16.6% to 116.1 in June.

That’s up from a reading of 99.6 in May. Contract signings are now 6.3% ahead of where they were last year after being significantly behind last year's pace due to the pandemic. An index of 100 is equal to the level of contract activity in 2001.

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MATT OTT AP Business Writer

Copyright 2020 The Associated Press. All rights reserved.

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