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)
August 21, 2020
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August 21, 2020 9:38 a.m.
Low rates and heavy buyer demand send US home sales surging
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 24.7%