The national median home price rose 8.2% year over year to an all-time high of $323,800 in July, as low rates drove a spike in early homebuyer demand.
Trying to buy a home today is starting to feel similar to searching for hand sanitizer or toilet paper in the early days of the coronavirus pandemic…
Key takeaways for the 4-week period ending July 26: Pending home sales were up 12% year over year, an increase from the 7% year over year gains we reported for the period ending July 12. 30-year mortgage rates have hovered around 3% for three weeks, and mortgage purchase applications were up 21% from a year
The U.S. housing market was unseasonably strong during the four-week period ending July 12.
The national median home price rose 2.8% year over year, reaching an all-time high of $311,300 in June.
The housing market closed out the month of June on somewhat uneven footing as pending sales pulled back slightly despite another record low for mortgage interest rates.
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