US home sales rise to highest level in two years

Home sales in the United States rose to their highest level in nearly two years in December, in the latest indication that low mortgage rates are helping the housing market regain its position after reaching low levels in 2018.

The National Association of Realtors said today that current home sales, which make up about 90% of home sales in the United States, increased 3.6% to a seasonally adjusted annual rate of 5.54 million units in December, the highest level since February 2018.

Existing home sales increased 10.0% year on year in December, sales were unchanged at 5.34 million units in 2019, and the average current home price rose 7.8% from last year to $ 274,500 in December.