US Housing Market

Contract closings fell 5.4% from May to an annualized 5.12 million, figures from the National Association of Realtors showed Wednesday.

The year-long COVID-19 pandemic has shifted demand towards bigger and more expensive houses as millions of Americans continue to work and remote schooling remains in place

Sales in the South, which accounts for almost half of the existing homes sales market, increased 1.9 percent last month.

Economists had forecast pending home sales rising 0.7 per cent last month