The latest data – which showed last month’s pace was the strongest since August – suggest the housing market may finally be gaining its footing after last year’s rapid rise in mortgage rates.

The surge in sales – the biggest on records going back to 1999 – ended a 12-month slide that knocked the nation’s housing market into its deepest slump in nearly a decade.

The nation’s real estate market has yet to fully account for the increasing threats to millions of homes from rising seas, stronger storms and torrential downpours, according to new research published Thursday.

Home prices continued to rise last month, though at a far smaller rate than just a few months ago.

The rate for a 15-year mortgage, popular with those refinancing their homes, fell to 5.98% from 6.38% last week. It was 2.39% one year ago.