08/02/2020

Housing market defies expectations amid economic turmoil

By KATY O'DONNELL 07/22/2020 07:15 PM EDT Facebook Twitter Link

The U.S. housing market, the epicenter of the nation’s last economic meltdown, is thriving — and that's helping to keep the country afloat during the latest crisis, even as other industries struggle to survive.

While the $34 trillion market faltered at the start of the pandemic, its rebound has far outperformed expectations, with existing home sales surging over 20 percent in June, according to data released Wednesday. Some areas of housing are actually doing better than they were before the coronavirus began sweeping the U.S...click here to read more.