U.S. Home Sales See Record Jump In June After 3-Month Decline

In June, home sales experienced a record increase after three months of decline due to the pandemic. Sales of various types of homes rose by nearly 21% compared to May, and home prices also increased. The National Association of Realtors attributes this to the easing of coronavirus restrictions, which spurred buyer interest. Despite the rebound, sales were still down 11.3% from 2019, and the number of homes on the market decreased by 18%. This shortage, present even before the pandemic, could lead to higher prices. The association's economist, Lawrence Yun, believes sales will continue to grow if mortgage rates stay low and job gains persist.

What was the percentage decrease in sales from 2019?

What could potentially lead to inflated prices in the housing market according to the text?