Low rates and heavy buyer demand send US home sales surging
FILE - This Monday, April 27, 2020, file photo shows a sale pending sign on a home in Mount Lebanon, Pa. The coronavirus pandemic helped shape the housing market by influencing everything from the direction of mortgage rates to the inventory of homes on the market to the types of homes in demand and the desired locations. (AP Photo/Gene J. Puskar, File)
FILE - In this Tuesday, July 21, 2020, file photo, Anil Lilly tours his new home, in Washingtonville, N.Y. The coronavirus pandemic helped shape the housing market by influencing everything from the direction of mortgage rates to the inventory of homes on the market to the types of homes in demand and the desired locations. (AP Photo/John Minchillo, File)
FILE - In this April 1, 2020 photo, a "For Sale" sign stands in front of a home that is in the process of being sold in Monroe, Wash., outside of Seattle. U.S. home sales rose a record-breaking 24.7% in July, extending last month’s rebound after the coronavirus pandemic all but froze the housing market this spring, the National Association of Realtors said Friday, Aug. 21, 2020. (AP Photo/Elaine Thompson, File)
SILVER SPRING, Md. (AP) — Spurred by ultra-low mortgage rates, home buyers rushed last month to snap up a limited supply of existing houses, causing the pace of purchases to jump by a record-high 24...
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