Despite Pandemic Home Sales Spike

Business Insider reports that in September, sales of previously owned homes leaped 9.4%.

According to the National Association of Realtors that's a seasonally adjusted annual rate of 6.54 million.

This is the fourth-straight month of accelerating sales, and the latest rate is the fastest since 2006.

Economists surveyed by Bloomberg expected the sales rate to climb to 6.3 million from August's revised 5.98 million.

The US housing market has served as a bright spot in the slowing economic recovery.

Record-low mortgage rates have driven more Americans to buy units.