The seasonally adjusted annual rate for existing home sales hit the 6-million mark for the first time since 2006, with a 2.4% month over month and 10.5% year over year growth in August, according to the National Association of Realtors.

NAR Chief Economist Lawrence Yun noted in a release that while sales continue to climb, there are also a lot of buyers in the pipeline ready to enter the market.

"Further gains in sales are likely for the remainder of the year, with mortgage rates hovering around 3% and with continued job recovery," he said.

New single-family home sales in the U.S. rose 4.8% month over month in August to a revised seasonally adjusted annual rate of 1,011,000, according to data from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. On an annual basis, new home sales grew 43.2%. Meanwhile, single-unit housing starts increased 4.1% month over month and 12.1% on a yearly basis.

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index posted a 0.4% increase month over month in July, after seasonal adjustment, and was up 4.8% on an annual basis.

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