In this July 10, 2014 photo, a mailman delivers mail to a house for sale in Quincy, Mass. The National Association of Realtors reports on existing-home sales in June on Tuesday, July 22, 2014. (AP Photo/Michael Dwyer)
Photo credit: The Associated Press
WASHINGTON (AP) — Sales of previously owned homes rose for a third straight month in June, pushing activity to the highest level in eight months and providing evidence that housing is regaining lost momentum.
The National Association of Realtors says that sales of existing homes increased 2.6 percent to a seasonally adjusted annual rate of 5.04 million homes. It marked the first time that sales have been above the 5 million-mark since October.
Even with the three months of increases, sales are still 2.3 percent below the pace in June of last year.
Sales peaked in early summer last year and then lost momentum as mortgage rates rose from extremely low levels. Sales were further hurt by an unusually severe winter.
Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.