The median sales price rose 4.7 per cent in August from a year earlier – the second-fastest gain in the past year – to US$278,200. Photo: EPA

Low mortgage rates, higher incomes drive US pre-owned home sales to highest in more than a year

  • Contract closings rose 1.3 per cent from the prior month to a 5.49 million annual rate, the fastest pace since March 2018
  • The first back-to-back sales gain since 2017 suggests housing is on the rebound after residential investment dragged down economic growth for six straight quarters
Topic |   International Property

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The median sales price rose 4.7 per cent in August from a year earlier – the second-fastest gain in the past year – to US$278,200. Photo: EPA
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