Record-low mortgage rates coupled with the COVID pandemic are causing a huge demand for homes — and increasing prices.
Home prices reached a record for the fourth consecutive month in September, and the most homes sold in more than a decade.
What pandemic or recession? Home prices reach a new record, thanks to the lowest-ever mortgage rates.
As the economy reopened in June, home sales followed as the always important summer home-buying season got hot despite the ongoing uncertainty of the COVID pandemic.
The COVID-19 pandemic and subsequent shutdown of the economy continued to pound the housing market, with the largest annual drop in sales since November 2007.