The median sales price of existing homes sold in the United States was $304,100 in July 2020, the first time in US history that the median sales price has exceeded $300,000. The $304,100 median price is also a record on an inflation-adjusted basis, besting the $230,200 median sales price from July 2006 (14 years ago), equal to $293,096 in 2020 dollars (source: Nat'l Association of Realtors).
Read MoreThis week we watched rates slightly improve as uncertainty climbed. The main culprit is the ongoing "debate" in Congress on what a fourth stimulus bill will look like. History has shown that Congress will likely get something done, things will just remain uncertain until everything is finalized.
Read MoreThe national average for the 30-year fixed-rate mortgage reached 3.13%, a new all-time low.
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