U.S. new-home sales increased 14% to an annual rate of 800,000.
Total private residential construction spending was 27% higher than a year ago.
Starts surged 50% on a year-over-year basis in May.
While the moratorium has protected millions of tenants, it has also resulted in financial hardships for landlords.
The legislation extends moratoriums prohibiting residential and commercial evictions.
Pending sales were up 13 percent compared to a year earlier. This January's PHSI was, in fact, the highest for…
30-year fixed-rate mortgage averaged 2.67 percent
In the U.S., median existing single-family home prices rose 12% year over year to $313,500, NAR said.
The fact that sales are outpacing construction starts to this degree indicates additional home building lies ahead.
NAR reports that existing-home sales in the Northeast rose by a record 30.6% in the month of July