Existing US home sales rose in June; prices hit new highs

Sales of previously occupied U.S. homes rose in June, snapping a four-month losing streak, while strong demand for higher-end properties and ultra-low mortgage rates helped push prices to new highs

Sales of previously occupied U.S. homes rose in June, snapping a four-month losing streak, while strong demand for higher-end properties and ultra-low mortgage rates helped push prices to new highs. Existing homes sales rose 1.4% last month from May to a seasonally-adjusted annual rate of 5.86 million units, the National Association of Realtors said Thursday. Sales jumped 22.9% from June last year. Economists were expecting that sales increased to an annual rate of 5.90 million, according to FactSet. The median U.S. home price climbed 23.4% from a year earlier to a record $363,300.