July 22 (UPI) -- After three months of declining home sales, the market saw a record bounce in June, an industry report said Wednesday.
The National Association of Realtors said sales of single-family homes, townhomes, condominiums and co-ops increased nearly 21% last month, to 4.7 million.
Overall sales, however, were down 11.3% year-to-year, after 5.3 million sold a year ago.
"It's inspiring to see Realtors absorb the shock and unprecedented challenges of the virus-induced shutdowns and bounce back in this manner," National Association of Realtors President Vince Malta said in a statement.
The report said home prices grew in every region as the median price for all housing types in June was $295,300, a yearly increase of 3.5%. The increase marked 100 straight months of year-over-year gains.
"The sales recovery is strong, as buyers were eager to purchase homes and properties that they had been eyeing during the shutdown," Lawrence Yun, NAR's chief economist, said. "This revitalization looks to be sustainable for many months ahead as long as mortgage rates remain low and job gains continue."
To aid buyers in the market, Google announced Wednesday it has updated its search engine to include a calculator, average rates and key terms that homebuyers can now use in searches.
Google collaborated with the Consumer Financial Protection Bureau for the new tools.
"Having clear, trustworthy information is important," Limor Yoeli, product manager for Google Search, said in a statement. "Even though the process can be challenging and it's a big commitment, we hope these new features can help you find the right path for you."