WASHINGTON – Sales of existing homes rose 0.7% in December, pushing the entirety of 2020 to a pace not seen in 14 years and providing one of the few bright spots for a U.S. economy mired in a global pandemic.
Rising sales in the final month of the year lifted activity to a seasonally adjusted annual rate of 6.76 million units, the National Association of Realtors reported Friday.
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Sales rose to 6.48 million in 2020, the highest level since 2006 at the height of the housing boom.
The median sales prices was $309,800 in December, up 12.9% from a year ago.