Sales of second-hand homes rose for the second month in a row in July, rising 2 per cent to an annualised rate of 5.99 million units

The demand for housing is strong, and the shortage of houses for sale shows signs of easing.

Sales of second-hand homes in the United States rose for the second month in a row in July, indicating stronger demand for housing and signs of easing in the shortage of unsold homes.

Data released on Monday by the National Association of Realtors (NAR) showSecond-hand housing sales rose 2% in July from the previous month, equivalent to an annual rate of 5.99 million unitsEconomists forecast a median of 5.83 million sets.

The data show thatLower borrowing costs and demand for residential space continue to stimulate willingness to buy houses。

"the housing market seems to be stabilizing," Lawrence Yun, chief economist at NAR, said on a conference call. He said the number of homes available for sale, a key factor in the recovery of the housing market, is growing slightly.

The median price of second-hand homes rose 17.8 per cent in July from a year earlier to $359900.