Market Update: Existing Home Sales Increased 1.1% in June

Existing Home Sales Report showed home resales increased 1.1% in June and rose 3% year-over-year, the strongest gain in nine years. Quicken Loans vice president Bill Banfield offers the following comments on the report:

“As home sales increase to a pace we haven’t seen in nearly a decade, one thing is clear – there is still a strong appetite for homebuying. This should be a sign to owners who are thinking of listing their home that the buyers are out there and they are looking for more choices as they continue their home search. This may be the right time to put that “for sale” sign in their yard.”

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