Sales of single-family homes and condos are on pace to reach an eight-year high this year, according to RealtyTrac's U.S. Home Sales Report for August.
There were 1,947,028 single-family homes and condos sold through the first eight months of the year — a 5.4% increase from 2014. In 2007, the last year when this metric reached higher levels by August, 2,069,963 of these homes were sold.
And out of 204 areas across the country, 110, or 54%, are on the track to reaching at least an eight-year high.
This might indicate that recent stock market turbulences have been overall beneficial to the U.S. housing market, RealtyTrac Vice President Daren Blomquist said in a Thursday press release. "There is evidence that the instability has fueled more demand for U.S. real estate."
"Our market continues to solidify," he added. "Distress sales continue to decline, a global wind from foreign investment, and uptick in cash and FHA numbers all point to a healthy market."
