Home sales rose in July for the first time in five months

Published Thu, Aug 22 202410:00 AM EDTUpdated Thu, Aug 22 202412:18 PM EDT

By: Diana Olick

watch nowVIDEO01:29July existing home sales break a four-month losing streak as supply rises nearly 20% over last year

Closed sales of previously owned homes rose 1.3% in July compared with June to a seasonally adjusted, annualized rate of 3.95 million units, according to the National Association of Realtors. That was the first gain in five months.

Sales were 2.5% lower compared with the same time last year.

Sales saw the biggest gains in the Northeast and were flat in the Midwest. Prices also rose the most in the Northeast.LEARN MORE…

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